Entitlement Offer Completion Details

Novatti Group (ASX:NOV), a leading fintech company, has successfully completed its 1-for-3 pro-rata non-renounceable Entitlement Offer. The offer raised $284,416 through the issuance of new shares and options.

Summary and Future Outlook

Novatti Group (ASX:NOV) has completed its Entitlement Offer, raising $284,416 and issuing 7,110,404 new shares and options. Despite a shortfall, underwriters helped issue additional shares and options, raising total proceeds of $5,032,002. The company seeks shareholder approval for a second tranche of the Placement to raise an additional $2,000,000. Novatti has the flexibility to place remaining shortfall shares within three months. The funds will support its growth and strategic goals. The Annual General Meeting is scheduled for November 28, 2024.

Executive Commentary on Entitlement Offer

We are pleased with the support shown by our shareholders and underwriters in this Entitlement Offer. The funds raised will support Novatti's ongoing growth and strategic initiatives. We look forward to the upcoming Annual General Meeting where we will seek approval for the second tranche of the Placement.