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TALi Digital Ltd (ASX: TD1) has announced a capital raise

TALi Digital Ltd (ASX: TD1) has announced it has received binding firm commitments from a range of institutional and sophisticated investors to raise $1.54 million. The Company has also been advised by its Lead Manager, Taylor Collison, that it has obtained firm sub-underwriting commitments for a total of $1.68 million in relation to a proposed non-renounceable entitlement offer the Company intends to launch shortly. The funds raised from the Placement will be used to support the commercialisation of the Company’s first-generation products, already available in Australia and India, the clinical development of its second-generation offering, and continued global partnership discussions.

When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.

More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.

Following the announcement, shares in TALi Digital Ltd traded 36.84% lower at $0.012 per share.

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