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Jayride’s New Leadership Drives $1.5M Raise and Targets 50% Cost Cuts Amid Supplier Strains
3:47am on Monday 2nd of June, 2025 AEST
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Jayride’s New Leadership Drives $1.5M Raise and Targets 50% Cost Cuts Amid Supplier Strains
3:47am on Monday 2nd of June, 2025 AEST
Key Points
New management team appointed in March 2025 to lead restructuring
$1.51 million raised via entitlement offer, plus $1.98 million convertible notes converted to equity
Targeting 50% reduction in operational costs within months
Supplier payment delays constrain operations, with active engagement underway
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