Bravura Solutions in $80m ‘half price’ raise as interim loss blows out to $191m

Software group Bravura Solutions (ASX: BVS) has reached out to shareholders to raise $80 million in fresh capital at a massive almost half-price discount after posting a blowout in losses to $191 million for the first half of FY23.

The Sydney-based Software as a Solution (SaaS) provider to financial institutions globally has issued a prospectus for the issue of 200 million shares at 40c each in a capital raise that represents 81 per cent of the company’s current shares on issue.

Bravura’s shares, which were placed into voluntary suspension on 28 February pending the capital raise announcement, last traded at 85c each, valuing the company at $211 million.

Read More: https://www.businessnewsaustralia.com/articles/bravura-solutions-in--80m--half-price--raise-as-interim-loss-blows-out-to--191m.html