Verbrec's Successful Capital Raise Results

Verbrec Limited (ASX: $VBC) has successfully raised approximately $4 million through an oversubscribed Placement and Entitlement Offer. The capital raise saw strong support from current shareholders, directors, and the management team. New institutional and professional investors have also joined the register as a result of this successful initiative.

Executive Commentary on Capital Raise

It's humbling to see the significant contribution to the recent capital raise from our long-standing and committed institutional investors and our executive management team. It is confirmation that the messaging about Verbrec's improving performance is making an impact thanks to the strong leadership of CEO, Mark Read and the efforts of all our people here at Verbrec. It's particularly pleasing to see new investment from small institutions, family offices, and sophisticated investors. The proceeds of the successful placement and entitlement offer put us on firmer ground and will allow us to invest and deliver our vision for FY2024 and beyond.

Summary of Verbrec's Capital Raise

Verbrec Limited (ASX: $VBC) has raised approximately $4 million through an oversubscribed Placement and Entitlement Offer. The capital raise received strong support from current shareholders, directors, and the management team, as well as new institutional and professional investors. The Directors, CEO, and the majority of the Company's executive management team participated in the capital raising, demonstrating their commitment to the Company's growth. The successful placement and entitlement offer proceeds will provide Verbrec with a firmer financial foundation, enabling them to invest and deliver their vision for FY2024 and beyond. The Company's improving performance, under the leadership of CEO Mark Read, has garnered positive attention from both existing and new investors, reflecting confidence in Verbrec's future prospects.