THE MARKET HERALD: “Elsight (ASX:ELS) raises $2.88M, appoints new Board member”

In an article published on 10 Jan 2020, The Market Herald reported on a significant raise & board changes at Elsight.

Main points:

  • Solutions provider Elsight (ELS), has announced a placement to raise $2.88 million
  • The company will issue 9 million shares at a price of 32 cents per share to Hong Kong Investors
  • The company has also announced the appointment of Peter Ashley Marks as a Non-Executive Director
  • Elsight is up 8.11 per cent on the ASX and is selling shares for 40 cents apiece

From the article:

“CEO Nir Gabay is grateful for this investment and the company’s long term investors.

“We see this expansion of their shareholdings as a very positive development for the company and are thankful for the continued support of our cornerstone investors as we accelerate our Halo v1.1 sales and marketing efforts,” he said.

Proceeds from the placement will be used to speed up sales and marketing efforts for the Halo v1.1 communications platform and the release of over 90 Halo v1.1 units to customers for POC testing.

Elsight has also announced it has appointed Peter Ashley Marks as a Non-Executive Director of the company, effective immediately.

Peter brings over 30 years of experience in corporate advisory and investment banking to the Board.”

Read the full article here


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