BikeExchange Ltd (ASX: $BEX) has confirmed the successful capital raising, with firm commitments from sophisticated and professional investors under the Placement to raise a further $677k. Additionally, the accelerated institutional component of the Entitlement Offer has increased the total amount raised to approximately $1.15 million, bringing the total Placement and Institutional Entitlement Offer commitments to approximately $1.83m.
The successful capital raising reflects the confidence of sophisticated and professional investors in BikeExchange's growth prospects and strategic initiatives. We are pleased with the strong support received, and this additional capital will further strengthen our position and enable us to pursue our strategic objectives effectively.
BikeExchange (ASX: $BEX) has successfully raised approximately $1.83 million through firm commitments from sophisticated and professional investors under the Placement and Institutional Entitlement Offer. The additional capital will support the company's strategic initiatives and growth prospects. The retail component of the Entitlement Offer is set to open on 6 March 2024, providing eligible retail shareholders with an opportunity to participate. BikeExchange remains focused on e-commerce transactions and seamless bicycle logistics solutions, aiming to enhance its global online cycling focused marketplaces.