Way2VAT completes successful capital raising

Way2VAT Ltd (ASX: $W2V) has successfully completed a capital raising, securing firm commitments to raise A$4.25 million through a placement at an issue price of A$0.022 per share. Additionally, the company has launched a share purchase plan of up to A$1 million at the same price as the placement, subject to shareholder approval. The proceeds from these initiatives will be utilized for working capital purposes and to expedite the pathway to profitability.

Executive commentary on capital raising

Way2VAT CEO Amos Simantov expressed satisfaction with the capital raising, acknowledging the strong support from existing and new shareholders. He highlighted the significant demand for the placement, emphasizing the company's well-capitalized position to seize global VAT/GST reclaims and services.

Summary of Way2VAT's capital raising and future plans

Way2VAT (ASX: $W2V) has successfully secured A$4.25 million through a placement and intends to raise an additional A$1 million via a share purchase plan. The funds raised will primarily be used for working capital and to expedite the pathway to profitability. The company aims to capitalize on the vast opportunity for global VAT/GST reclaims and services. Additionally, Way2VAT plans to utilize the proceeds to fund potential further growth opportunities. With a strong focus on accelerating recent company initiatives, Way2VAT is well-positioned to pursue its corporate strategy and enhance shareholder value.