IOD announces successful equity raising

IOD Limited (ASX: $IOD) has successfully raised $1.7m through the issuance of 10.4m fully paid ordinary shares at an issue price of 16.5 cents. The funds raised will be utilized to expedite the Company's global education roll-out into North America, advance existing growth initiatives in the UK education sector, and for general working capital purposes. The new shares issued will rank equally with existing IODM ordinary shares and are expected to settle on 7 August 2024.

Executive Commentary on Equity Raising

Mark Reilly, IODM Chief Executive Officer, stated, 'We are rapidly gaining traction in North America and are looking forward to accelerating and executing on our strong pipeline of opportunities in the country. I am very pleased with the support for this capital raise which is a vote of confidence in the Company and our exciting growth potential.'

Summary of IOD's Equity Raising Announcement

IOD Limited (ASX: $IOD) has successfully raised $1.7m through the issuance of ordinary shares, with the funds earmarked to expedite the Company's global education roll-out into North America, advance existing growth initiatives in the UK education sector, and for general working capital purposes. The new shares issued will rank equally with existing IODM ordinary shares and are expected to settle on 7 August 2024. Mark Reilly, IODM Chief Executive Officer, expressed confidence in the Company's growth potential and the support received for the capital raise.