1st Group Ltd. (AU:VFX) has released an update.
Visionflex Group Limited embarks on a $7.5 million capital raise to reduce debt, boost sales and marketing, and support growth initiatives, with major shareholder backing and a promising increase in revenue. The raise includes a $7.1 million entitlement offer and a $0.4 million placement, with the aim to propel the company towards a profitable FY25. The funds are also intended to significantly lower the previous year’s EBITDA loss, indicative of a strategic business turnaround.
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