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IOUpay Limited ( (AU:OVT) ) has issued an update.
Ovanti Limited has completed a capital raising of approximately $1 million through the placement of 566.9 million new shares at $0.001764 per share, representing a 15% discount to the recent five-day volume-weighted average price. The funds, raised via Clee Capital, will be used to support new and existing strategic partnerships and merchant agreements for Ovanti’s U.S. buy now, pay later business, as well as to cover working capital, legal costs and offer expenses, underscoring the company’s push to scale its BNPL footprint in the U.S. market with backing from institutional and sophisticated investors despite the dilutive nature of the discounted issue and associated capital-raising fees.
The most recent analyst rating on (AU:OVT) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on IOUpay Limited stock, see the AU:OVT Stock Forecast page.
More about IOUpay Limited
Ovanti Limited is a fintech and digital commerce software provider that offers secure authentication and transaction processing solutions for institutional customers, enabling banking, purchase and payment transactions via mobile devices. Its core platform supports mobile banking and digital payments for leading banks, telecommunications operators and large corporates in Malaysia and Indonesia, while the company is also expanding its buy now, pay later (BNPL) operations into the United States, leveraging its longstanding experience with major banking clients in Asia.
Technical Sentiment Signal: Sell
Current Market Cap: A$13.43M
Learn more about OVT stock on TipRanks’ Stock Analysis page.