Industrial software developer QMASTOR (ASX:QML) has launched a 1 for 3 rights issue to raise $3.9 million.
The non-renounceable issue will be at $0.21 per share – a 25% discount to QMASTOR's closing trading price from yesterday.
Shareholders taking up the offer will be entitled to apply for extra new shares at the same price.
The proceeds will be used to fund the acquisition of Canadian software and services company Algosys.
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