Sydney-headquartered energy and sustainability software company Simble has received commitments to raise approximately $500,000 under a placement to investors.
Funds raised will enable the company to progress and grow its global energy and sustainability software solutions business, and its two product platform divisions: CarbonView and SimbleSense.
Together with the growth of Simble's sustainability solutions business, the Placement is also part of a series of strategic initiatives the Company intends to undertake to grow its immediate revenues and strengthen its balance sheet.
The Company has cancelled its At-The-Market Facility (Facility) with Alpha Investment Partners Pty Ltd. Alpha currently holds 10,950,000 collateral shares under the Facility. These shares will be transferred to a third party investor, who will then pay Simble $27,375 to become the legal and beneficial holder of these shares.
Simble has also appointed Faldi Ismail to the board as non-executive chairman, with existing chairman Steve Thornhill to transition to non-executive director.
Ismail is a corporate advisor and entrepreneur with over 20 years of experience in capital markets, specialising in identifying, structuring, and financing emerging growth companies.
Back in 2018, the company began trading on the ASX today raising $7.5 million in an IPO.
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