Traffic Technologies announces entitlement offer results

Traffic Technologies (ASX:TTI) has announced the results of their non-renounceable pro-rata entitlement offer. Shareholders subscribed for new shares totaling $174,576. This corresponds to the issue of 34,915,287 new shares and the same number of options. The funds will be used for operational needs.

Outlook and future plans for Traffic Technologies

Traffic Technologies has successfully raised $174,576 through its entitlement offer, issuing 34,915,287 new shares and options. The funds will be directed towards purchasing equipment, providing working capital, and covering offer expenses. The company plans to address the remaining $2.6 million shortfall with a shortfall offer to wholesale investors, closing in March 2025. This strategic move aims to strengthen its financial position and support future growth.

Executive insights on entitlement offer results

The entitlement offer has successfully raised a substantial amount, which will aid in purchasing additional equipment and materials, as well as providing working capital. We remain committed to addressing the shortfall through a targeted offer to wholesale investors.