VoIP company Freshtel Holdings (ASX:FTH) has revealed it raised only around $1 million from its recent renounceable rights issue, not the $1.6 million initially planned.
Eligible shareholders only applied for around 65% of the rights issue, which closed on 25th of may, Freshtel said.
The new shares should be dispatched by shareholders in June 2nd, and commence trading on June 3.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.