Butn to raise $1.8 million in new equity

ASX-listed Butn have announced the proposed issue of approximately 8,702,884 new shares to raise $1.8 million via $1.0 million via an Institutional Placement, with an additional $0.82 million of director related loans to convert to equity.

Butn’s Co-Founder and Co-CEO, Rael Ross said, “We have had an incredibly strong FY23 to date, including record originations and revenue, all whilst maintaining a relatively stable operating base. The additional equity via this placement provides further capacity to continue delivering and growing.”