AVA Risk Group share purchase plan details

AVA Risk Group Limited (ASX: $AVA) is offering its shareholders the opportunity to purchase up to $30,000 in additional shares through a share purchase plan (SPP). The SPP is part of a broader capital raising initiative announced by the Company on 28 March 2024, which includes a placement to raise $3 million and this follow-on SPP. The SPP will be available to shareholders on the Company register at 7.00pm (Sydney time) on 8 April 2024, with a registered address in Australia or New Zealand.

Executive commentary on share purchase plan

The proceeds raised from this SPP will be utilized to support the execution of the Company's recently announced contract wins, including working capital, dedicated support resources, infrastructure, and ongoing product development. The SPP presents an opportunity for eligible shareholders to participate in the Company's growth and expansion plans at a discounted price, further strengthening the Company's financial position and supporting its strategic initiatives.

Summary of AVA Risk Group's share purchase plan

AVA Risk Group Limited (ASX: $AVA) is offering its shareholders the opportunity to purchase additional shares at a discounted price of $0.13 per share through a share purchase plan (SPP). The SPP forms part of a broader capital raising initiative and aims to raise up to $1 million. The proceeds from the SPP will be used to support the Company's recently announced contract wins, working capital, dedicated support resources, infrastructure, ongoing product development, and large-scale Detect programs. The Company reserves the right to close the SPP early and encourages shareholders to consider this opportunity as it aligns with the Company's growth and expansion plans.