CVCheck taps investors for $7.6m raising

27/05/2016 - 13:10

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Online screening and verification company CVCheck has announced plans to raise up to $7.6 million from investors as it wraps up its acquisition of New Zealand-based company Resume Check.

CVCheck taps investors for $7.6m raising
CVCheck chief financial officer Rod Sherwood.

Online screening and verification company CVCheck has announced plans to raise up to $7.6 million from investors as it wraps up its acquisition of New Zealand-based company Resume Check.

Perth-based CVCheck has raised $4.6 million through the placement of 21 million shares at 22 cents each from institutional investors, representing an 18 per cent discount to the company’s 10-day volume weighted average price.

The company also plans to raise up to a further $3 million through a share purchase plan, also priced at 22 cents per share.

Proceeds from the raising will be used to cover costs associated with the company’s $2 million acquisition of Resume Check, which was announced early last week.

The funds will also be used for general working capital, marketing, and a restructuring of the company’s sales team.

CVCheck chief financial officer Rod Sherwood said the raising received a strong level of support from both retail and institutional investors.

“As a result, the number of high calibre institutions will join the company’s register, and we are delighted to have their support,” Mr Sherwood said.

“CVCheck is now firmly focused on finalising the Resume Check acquisition and scaling up our operations in both New Zealand and Australia.”

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