Change Financial (ASX:CCA) raises $4.9M for Wirecard acquisition

Fintech company Change Financial (CCA) has raised an additional $4.9 million for its Wirecard acquisition.

The extra capital comes from a pro rate entitlement offer, for which shareholders were able to buy two new shares for every 11 already held.

The new shares were worth 9.5 cents each, and Change advises around 80 per cent of eligible shareholders took up the offer.

Altor Advisory Partners and Canaccord Genuity, which were the dual underwriters for the offer, also took up the shortfall shares available.

All of the shares under the entitlement offer and shortfall will be issued on October 7, and begin trading on October 8.

In addition to the $4.9 million raised recently, Change Financial also raised $6.4 million via a placement in mid-September to fund the Wirecard acquisition.

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Source: Change Financial (ASX:CCA) raises $4.9M for Wirecard acquisition – The Market Herald