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archTIS Ltd. ( (AU:AR9) ) has provided an update.
archTIS Ltd. has announced a fully underwritten accelerated non-renounceable entitlement offer to raise capital by issuing one new share for every three shares held by eligible shareholders at $0.15 per share. This initiative, supported by Canaccord Genuity and Henslow Pty Ltd as underwriters, aims to issue approximately 113 million shares and includes a shortfall bookbuild process for institutional investors and a retail shortfall facility for retail investors. The entitlement offer is not expected to significantly alter the company’s control structure, as it is designed to maintain proportional ownership interests for participating shareholders.
The most recent analyst rating on (AU:AR9) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on archTIS Ltd. stock, see the AU:AR9 Stock Forecast page.
More about archTIS Ltd.
archTIS Ltd. operates in the information security industry, focusing on providing secure information sharing and collaboration solutions. The company is known for its expertise in data protection and compliance, catering primarily to government and enterprise sectors.
Average Trading Volume: 1,422,217
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$62.76M
Learn more about AR9 stock on TipRanks’ Stock Analysis page.