AppsVillage rockets 23% following cap raise at a premium
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AppsVillage shares jumped 23% today following the announcement of a capital raise at a premium ahead of TSXV listing.
AppsVillage (ASX:APV) has announced a successful capital raise at a premium price of 16 cents, a 45% increase on Friday’s closing price of 11 cents.
The company saw its share price jump this morning following the announcement that it had successfully secured non-binding commitments to raise over $2.6 million from institutional investors as a cornerstone investment towards the listing.
AppsVillage also announced binding commitments from existing institutional investors to raise $600,000 in a share and option placement and a $200,000 directors’ investment, displaying strong support for the company’s ongoing growth plans from existing investors.
The company received conditional approval for dual listing on the TSXV last week and plans to raise a total of CAD$5 million as part of the process. CEO and founder, Max Bluvband, said the additional capital will help AppsVillage move forward with its plans for growth.
“We are very pleased with the support we have received from our largest and existing shareholders and directors of the company as we continue to execute on our growth strategy. The proposed TSXV listing has generated good interest from potential investors and we look forward to completing that process in the near term,” said Bluvband.
It’s been a massive couple of months for AppsVillage. The SaaS marketing provider for small and medium business owners (SMBs) has signed several significant partnerships with tech giants including Facebook, Google and TikTok, expanding its offer to its clients.
AppsVillage also launched its AdRabbit AI advertising service with a pilot program across a select group of existing clients, offering them the ability to tailor intelligent advertising campaigns across several platforms with minimal time and experience.
With more and more SMBs going digital, particularly as they are faced with increasing pressure from the COVID-19 pandemic and its impact on bricks and mortar shopping, AppsVillage is well-positioned to assist them in growing their business online.
AppsVillage clients are able to use the company’s JARVIS platform and AdRabbit features with minimal experience in digital marketing and the system’s AI offering allows them to tailor each campaign for specific goals and outcomes, and monitor the campaigns in real time.
A Facebook case study has shown AppsVillage provides its clients with a 6.7 point increase in ad recall, a 5.8 point higher campaign awareness and 1.5 point higher familiarity for its small and medium business clients.
This article was developed in collaboration with AppsVillage, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.