Appen Ltd. (AU:APX) has released an update.
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Appen Ltd has completed a significant institutional placement, raising A$50 million by issuing 26 million new shares at a discounted offer price, reflecting robust investor confidence and the company’s return to profitability. The funds are expected to fuel Appen’s growth, especially with emerging generative AI opportunities. Additionally, Appen announced a Share Purchase Plan to raise A$5 million, offering existing shareholders the chance to buy new shares at the same discounted rate.
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