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Praemium raises $2.5m in placement

Praemium raises $2.5m in placement

Online financial management technology developer Praemium (ASX:PPS) has raised $2.5 million in a share placement.

The company revealed it had placed 17.8 million new shares with sophisticated investors at $0.14 per share – its closing price on the most recent day of trading prior to the agreements.

The proceeds will be used to fund expansion efforts both in Australia and the UK, Praemium said. PPS shares on Tuesday climbed 7.14% to $0.150.

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Tags Share placementPraemiumASX:PPSFinancial Services

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