Rent.com.au Ltd (AU:RNT) has released an update.
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Rent.com.au Ltd is set to raise $2.5 million through a fully underwritten entitlement issue at $0.02 per share to bolster the commercialization of its RentPay service, which already boasts over 9,000 active customers. The initiative has garnered strong backing from the company’s directors and management, who have pledged approximately $260,000 towards the cause. The proceeds from the issue will be primarily allocated towards sales and marketing efforts to capitalize on the company’s substantial opportunity pipeline.
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