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An announcement from Rent.com.au Ltd ( (AU:RNT) ) is now available.
Rent.com.au Limited announced that option holders have exercised over $4 million in options, totaling more than $5 million, which represents 63% of the original total. This early exercise is a strong vote of confidence in the company’s strategy and future, providing significant growth capital at a 60% premium to the last raising. The influx of capital will accelerate profitability by expanding RentBond® and reducing funding costs, positioning the company for growth beyond expected cashflow break-even.
More about Rent.com.au Ltd
Rent.com.au Limited is a leading platform in Australia focused on renters. The company offers services such as RentBond® and RentPay, aiming to provide a renter-focused platform that scales recurring revenue.
Average Trading Volume: 1,209,008
Technical Sentiment Signal: Buy
Current Market Cap: A$44.2M
Learn more about RNT stock on TipRanks’ Stock Analysis page.