PaySauce Raises A Further $1.17M
Employment solutions provider PaySauce (NXZ: PYS) provides an update on the placement of its remaining shares, after concluding an initial Rights Issue on March 9th 2020. PaySauce has today issued 3.4M shares from the Rights Issue shortfall, injecting an additional $1.166M cash into the business. This reduces the shortfall to just over 1.6M shares available, and the company expects to complete one final allotment in May.
PaySauce CEO Asantha Wijeyeratne says the PaySauce leadership team is extremely happy with these results. “This is an outcome to be proud of, especially with all the uncertainty surrounding the COVID-19 pandemic. We’re humbled that investors have confidence in us even in such a risk-averse environment.”
Notably, PaySauce has added an institutional investor, Pathfinder CareSaver, with an investment of $405,000 in this allotment.