Thrive Tribe Raises $240,000 in Discounted Share Placement to Fund Working Capital

Wooboard Technologies Limited ( (AU:1TT) ) just unveiled an announcement.

Thrive Tribe Technologies has completed a capital raising of approximately $240,554 via a placement of 318,615,000 new shares to sophisticated and professional investors at a 25% discount to the recent 15-day volume-weighted average price. The funds will be used for general working capital and to cover the costs associated with the placement, supporting the company’s ongoing operations in the digital wellness sector.

Clee Capital acted as lead manager to the placement and will receive a cash fee of 6% plus GST on funds raised, and is also set to receive 32 million options exercisable at $0.003 for three years, subject to shareholder approval. The transaction modestly strengthens Thrive Tribe’s balance sheet while introducing additional equity and potential future dilution through options, factors that existing and prospective shareholders will weigh against the company’s growth plans.

The most recent analyst rating on (AU:1TT) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Wooboard Technologies Limited stock, see the AU:1TT Stock Forecast page.

More about Wooboard Technologies Limited

Thrive Tribe Technologies Limited is an ASX-listed digital technology company focused on health and wellness communities. Its core platform, Kumu, connects individuals, creators, and businesses through data-driven insights and engagement tools, aiming to foster a vibrant ecosystem of users committed to positive lifestyle and wellness outcomes.

Technical Sentiment Signal: Sell

Current Market Cap: A$1.43M

For an in-depth examination of 1TT stock, go to TipRanks’ Overview page.