Business
Why the Sensen (ASX:SNS) share price is lifting today
The Sensen Networks Ltd (ASX: SNS) share price has been up and down this morning after the software company announced a successful placement.
The company’s shares opened 15% lower at 15 cents. However, at the time of writing, the Sensen share price has since lifted 2.86% to trade at 18 cents.
Why is the Sensen share price up today?
In today’s release, Sensen advised it has raised $7.15 million from professional and sophisticated investors through a placement. The issuance of 57,200,000 new ordinary shares at a price of 12.5 cents each were allotted to participating shareholders yesterday. Sensen noted that the offer price reflected a 9.2% discount on the 30-day volume weighted average price of its shares.
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