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DataSquirt to raise $400k in rights issue

DataSquirt to raise $400k in rights issue

sent off an offer for a rights issue to raise up to $400,000.

The company, which supplies the multi-channel enterprise communications solution CONTACT, is offering shareholders the right to purchase one new share at $0.10 per share for every 7 shares they own.

The non-renounceable issue has been underwritten by DataSquirt's directors. Shareholders will have until January 5 to accept the offer, and the new shares will be issued on January 13.

DataSquirt has announced it will use the funding injection for working capital.

With DSQ shares most recently trading on-market at $0.095, the price is a slight premium on the market value. The shares have been hovering around $0.10 since April.

DataSquirt has been making strides to break into the UK reseller market, extending the CONTACT platform for contact centres.

The company has look to social mediaindicated it will for growth in FY11.

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Tags rights issueASX:DSQdatasquirtTelecommunications

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