Internet kiosk developer pieNETWORKS (ASX:PIE) has completed the placement of 50 million shares, raising $1 million in the process.
The company has also issued 20 million options to CPS Securities as payment for fund raising and advisory services, and 17.6 million employee incentive options. The latter will be paid out in three equal tranches annually - if pieNETWORKS' share price exceeds the targets.
pieNETWORKS was given approval to issue the options late last week.
PIE shares are today trading unchanged at $0.024. The company's share price rose 26.3% over the course of last week.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.