DomaCom raises $2.95m
DomaCom has announced a completion of $2.95 million capital raise through the issue of a convertible security to a Melbourne-based institutional investor Thundering Herd.
The firm said that the security would have a two year term paying an annual 15 per cent coupon rate on a quarterly basis with a conversion price of 15 cents per note.
DomaCom’s chief executive, Arthur Naoumidis said that the move would put his company in a position to be able to offer several solutions to two key problems such as housing affordability and funding retirement lifestyles.
“This funding completes a key part of our recapitalisation strategy and positions the company well to leverage from our recent full Federal Court and ASIC milestones,” he said.
“It is pleasing that we have found an Australian institutional investor that is truly a high conviction investor to help us deliver our potential.”
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