Way2VAT Secures AU$2 Million Through Oversubscribed Placement

Highlights:

• AU$2 million Raised: Way2VAT (ASX: W2V) secures strong investor support at A$0.007 per share.
• Use of Funds: Proceeds to be used for working capital and debt reduction.
• Growth Momentum: CEO cites recent client wins and a strong pipeline as key drivers of future profitability.

Strong investor backing boosts fintech firm’s growth plans

Global fintech company Way2VAT Ltd (ASX: W2V) has successfully secured firm commitments to raise approximately A$2 million through a placement, the company announced today. At the time of writing, the capital raising will be completed via the issue of around 285.7 million fully paid ordinary shares at A$0.007 per share, attracting strong demand from both existing and new professional and sophisticated investors.

Funds to support growth and reduce debt

Way2VAT, a leading provider of automated VAT claim and return solutions, plans to use the proceeds from the placement primarily for working capital needs and to reduce short-term bank debt. The issue price represents a 12.5% discount to the company’s last closing share price of A$0.008 on 28 May 2025, and an 18.4% discount to its 30-day volume-weighted average price (VWAP). CEO Amos Simantov expressed gratitude for the investor confidence, saying, “We are extremely pleased with the response to the capital raise and appreciate the backing from both new and long-time shareholders. With recent client wins and a robust business pipeline, the company is well-positioned to accelerate its path to profitability.”

Placement structure and timeline

The shares will be issued under the company’s existing placement capacity as per ASX Listing Rules 7.1 and 7.1A, with settlement expected on Tuesday, 3 June 2025, and share allotment scheduled for Thursday, 5 June 2025. The Placement Shares will rank equally with existing shares on issue and are not expected to significantly affect control of the company. This capital injection is expected to enhance Way2VAT’s financial flexibility as it continues expanding in the global VAT automation space.

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