Structural raises $401k through share placement

Structural raises $401k through share placement

Structural integrity monitoring company Structural Monitoring Systems (ASX:SMN) has arranged to raise $401,000 in capital through a share placement.

Under the arrangement, Structural has issued 48.3 million shares to clients of Mac Equity Partners at $0.83 cents per share.

In addition, Structural will issue one free option per share, convertible after three years.

As a result of the fund raising, the company has cancelled a proposed share purchase plan.

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Tags Structural Monitoring Systemscapital raisingShare placement

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