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IOUpay Limited ( (AU:OVT) ) just unveiled an announcement.
Ovanti Limited has secured firm commitments to raise $3 million through a placement of 1.2 billion new shares at $0.0025 each, a 15% discount to the recent five-day VWAP, to institutional, professional and sophisticated investors. The funds will be used to support its US buy now, pay later operations, cover ongoing litigation costs, fund business development, promotion and marketing, and bolster general working capital, with joint lead managers Clee Capital and Evolution Capital receiving cash fees and unlisted options as part of their mandate, underscoring Ovanti’s push to strengthen its balance sheet and advance its expansion strategy in fintech and digital payments.
The most recent analyst rating on (AU:OVT) stock is a Sell 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 delivers secure mobile banking, digital payments and transaction processing solutions to institutional clients, including leading banks in Malaysia and major telecommunications companies and corporates in Malaysia and Indonesia. Its core platform enables large organisations to authenticate end-users and integrate mobile technology into existing products, while the company also partners with telco network providers on over-the-top services and is expanding buy now, pay later offerings into the United States market.
Technical Sentiment Signal: Sell
Current Market Cap: A$16.55M
For a thorough assessment of OVT stock, go to TipRanks’ Stock Analysis page.