Series C Capital raise

Eric indicated the latest Capital raise had closed and had been positive. Any update on this ? April is pretty much done and dusted with ANZAC day long weekend so we are almost in May.

“Happily I can inform you that the Series C round is now closed and we expect to announce to the market the final outcome of the Series C raise in mid April. I hope you will be very happy with the result when it is finalised and announced.”

1 Like

Hi @T_Armer - we were hoping to finalise mid April but details are taking a bit longer - we hope to get back to you in a couple of weeks with the final outcome :ninja_emojis_blue_02:

1 Like

Will he be sending around an additional email for it @nanoxinja ?

Hey @weeksy_j, yes an investor C update will included in the Investor update email from Eric, in May :_ninja_emojis_purple_02:

1 Like

It’s been another 27 days so much more than the couple of weeks. Eric said in March the series c round had successfully closed. The amount of recruitment you are doing suggests the same but I get nervous as a shareholder when we don’t get the updates promised. It’s a pretty important question eg how was raised and a what price. Thanks

1 Like

Hi @T_Armer and everyone else,

Firstly let me apologise for not being able to keep my promise to update you as I had hoped. This is my first time raising capital on this scale and I was probably over optimistic on time lines and unaware of how things can go pear shaped!

We had an investor all lined to take the remaining funds in Series C. After beginning our due diligence we started to think he was a bit of a dodgy punter, and after a while it became apparent we weren’t going to be able/didn’t want to progress. That meant we had to go back to our list of existing and potential investors and find new investor/s. It was a painful decision, but under no circumstances were we going to contaminate Xinja by bringing in a significant shareholder that didn’t align with our ethical views and positions.

I am happy to say however, that we were pretty rapidly able to secure a considerable amount of funding to replace the investment. The bi-monthly investor update will be out very shortly and I will expand a bit more in that.

Thanks for being a shareholder, and again I am really sorry it took a bit longer than I had planned to come back to you.


:+1:Thanks for the encouragement @T_Armer. Yes the share price was the same as Crowdfund Feb’19. Series C price is series C price! Good question! Thanks @nanoxinja :ninja_emojis_blue_02::_ninja_emojis_lilac_01::ninja_emojis_pink_02:

1 Like

Good to know. Thanks @nanoxinja!

1 Like