archTIS Ltd has successfully completed the share purchase plan announced on December 2, boasting a 40% oversubscription.
The global provider of innovative software solutions for the secure collaboration of sensitive information initiated the capital raise to support the company’s capital finance strategy, including the launch of its Kojensi product into international markets.
Oversubscribed
The oversubscribed $500,000 share purchase plan raised a total of $700,802 through the issuance of 6,674,268 fully paid ordinary shares at $0.105 per share, together with 3,337,102 free-attaching Options, each exercisable at $0.20, expiring December 23, 2025.
In addition, the placement for sophisticated and institutional investors completed in early December raised $1.35 million.
An extra $150,000 is to be raised subject to shareholder approval for director participation in the placement – this will be sought in early 2023 by the issue of 12,857,142 shares at $0.105 per share, together with 6,428,567 free-attaching options, each exercisable at $0.20, expiring December 13, 2025.
Managing director and CEO Daniel Lai said: “I am pleased to announce the oversubscription of the SPP by more than 40% by our valued shareholders.
“As part of our recent capital finance strategy, shareholder contributions will play a large part in our growth plan for releasing Kojensi into international markets.
“Shareholder support and dedication are greatly appreciated as we look forward to delivering on our key objectives in 2023 and beyond.”
About archTIS Limited
archTIS delivers software solutions involving sensitive information. The company’s data-centric information security solutions protect the world’s most sensitive content in government, defence, supply chain, enterprises and regulated industries through attribute-based access and control (ABAC) policies.
The company’s products include Kojensi, a multi-government certified platform for the secure access, sharing and collaboration of sensitive and classified information, and NC Protect, which provides enhanced information protection for file access and sharing, messaging and emailing of sensitive and classified content across Microsoft (NASDAQ:MSFT) 365 apps, Dropbox, Nutanix Files and Windows file shares.