Hostech raises $8.6m in share placement

Hostech raises $8.6m in share placement

Telecom service provider Hostech (ASX:HTC) has announced that it has raised $8.6 million via a share placement.

The company said it had raised the funds via the sale of convertible notes to Flaxton Hunter, which purchased the shares for a number of sophisticated investors.

Over $7.5 million worth of the notes have been immediately converted to new shares, Hostech said.

Hostech is on an acquisition spree so the capital will likely be used to help fund the purchases.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags it servicesTelecommunicationsHostechcapital raisingShare placement

Show Comments