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Frugl Group Limited ( (AU:IFG) ) has provided an announcement.
InFocus Group Holdings Limited has issued 670,000 new convertible notes to raise approximately USD 670,000 (about AUD 1 million) in additional working capital, primarily to support its expanding software solutions operations in Thailand and its strategic moves into iGaming. The board selected this funding arrangement with Obsidian Global Partners due to its relatively low cost, conversion premium to the prevailing share price, and lower potential dilution compared with alternative financing options, and the notes were issued with shareholder approval under ASX Listing Rule 7.1, increasing the company’s secured liabilities but preserving placement capacity and enabling future conversion into shares without further disclosure to retail investors.
The most recent analyst rating on (AU:IFG) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Frugl Group Limited stock, see the AU:IFG Stock Forecast page.
More about Frugl Group Limited
InFocus Group Holdings Limited is an ASX-listed data analytics and software solutions company, with growing operations in Thailand and recently announced strategic ventures in the iGaming sector. The company focuses on software-driven services and data-led solutions, seeking to expand its regional footprint and capabilities through targeted investment and funding arrangements.
Average Trading Volume: 1,190,894
Technical Sentiment Signal: Sell
Current Market Cap: A$9.28M
See more insights into IFG stock on TipRanks’ Stock Analysis page.