SHARES in online airport transfer marketplace Jayride resumed trading today, after being suspended earlier in the week pending the announcement of a capital raising (TD 12 Nov).
The company today confirmed it had completed a placement of about 10.5 million shares at 30c each to “sophisticated investors” to raise $3.2 million, while the company’s board and senior managers have committed a further $300,000 to lift the total to $3.5 million.
“High quality institutional investors” including Thorney Investment Group will hold more than 5% of the company, while a share purchase plan has launched to raise an additional $1.5 million.
“Jayride is now well-funded on a high-growth path to profitability,” according to CEO Rod Bishop, who noted that the company was seeking to expand its board with new skills in “scaling global travel platforms”.
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Source: traveldaily