I Synergy Group Nets $1M in Strongly Supported Entitlement Offer
I Synergy Group Limited has successfully raised approximately $1 million through a fully underwritten entitlement offer, with robust shareholder participation and full underwriting support.
- Entitlement offer raised about $1 million before costs
- 88.3% take-up by eligible shareholders
- Underwritten fully by VGI Vmall Limited
- New shares to be issued on 30 June 2025
- Shares will rank equally with existing ordinary shares
Capital Raise Completion
I Synergy Group Limited (ASX, IS3), a technology company focused on digital solutions with a social impact mission, has announced the successful completion of its fully underwritten pro-rata entitlement offer. The company aimed to raise approximately $1,001,460 before costs, and the offer was met with strong support from shareholders.
The entitlement offer saw eligible shareholders apply for roughly 843 million new shares, supplemented by an additional 40.9 million shares under a Top-Up Offer. This resulted in a total take-up rate of about 88.3%, reflecting solid confidence from the existing investor base.
Underwriting and Allocation
The remaining shares not taken up by shareholders were allocated to the underwriter, VGI Vmall Limited, which took up its full entitlement of 117 million shares valued at approximately $117,000. This full underwriting arrangement ensured the company secured the targeted capital regardless of shareholder participation.
The new shares, including those issued to cover the shortfall, are scheduled for issuance on 30 June 2025. These shares will rank equally with the company’s existing ordinary shares, maintaining shareholder equity balance.
Strategic Implications
While the announcement does not specify how the funds will be deployed, the successful raise provides I Synergy with additional capital to potentially accelerate its growth initiatives in digital innovation and social impact projects. The company’s emphasis on job creation, skill development, and entrepreneurship aligns with broader market trends favoring technology firms with a purpose-driven agenda.
Investors will be watching closely for forthcoming updates on how this capital injection translates into operational progress and value creation.
Bottom Line?
I Synergy’s well-supported raise sets the stage for its next growth phase, but clarity on capital deployment will be key.
Questions in the middle?
- How does I Synergy plan to allocate the newly raised funds?
- What impact will the share issuance have on the company’s earnings per share?
- Will the company pursue further capital raises or strategic partnerships soon?
