Computer equipment financing company ThinkSmart (ASX:TSM) said it had completed the institutional phase of its $16 million capital raising plan.
The company received strong support for the institutional component, according to CEO Ned Montarello, with the company closing the $11.9 million placement oversubscribed.
“The positive response...from our existing institutional shareholders and the introduction of new institutional shareholders demonstrated strong support for ThinkSmart's UK and Australian growth plans,” he said.
ThinkSmart announced the placement, and an accompanying entitlement offer, yesterday.
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