Opyl Limited's successful completion of rights issue shortfall placement

Opyl Limited (ASX: $OPL) has successfully completed a placement of all 4,666,666 partial underwriting shares and all 24,873,344 shortfall shares at an issue price of $0.03 per share, raising an additional $886,200 (before costs) under the shortfall facility of the rights issue, which closed on 15 January 2024. The company has raised approximately $1,433,358 before costs through the issue of 47,778,604 new fully paid ordinary shares. The funds raised will be utilized for sales, marketing, and support initiatives for TrialKey's in-progress commercialization strategy, targeted technology development for the TrialKey platform, and working capital.

Executive Commentary

The Board and management team express their gratitude to both existing and new shareholders for their participation and support shown through the capital raisings. The funds raised from the placement and the non-renounceable rights issue will be instrumental in advancing critical initiatives aimed at unlocking flagship revenue for TrialKey and enhancing the scalability of the platform.

Summary of Opyl Limited's Announcement

Opyl Limited (ASX: $OPL) has successfully completed a rights issue shortfall placement, raising approximately $1,433,358 before costs. The funds raised will be directed towards sales, marketing, and support initiatives for TrialKey's commercialization strategy, targeted technology development for the TrialKey platform, and working capital. The completion of this placement signifies a significant step in Opyl's efforts to advance its critical initiatives and unlock flagship revenue for TrialKey, demonstrating the company's commitment to enhancing its scalability and driving growth in the digital health sector.