Quantify to raise $4m

Perth-based Quantify Technology Holdings has announced a $4 million capital raising to progress the commercialisation of the company’s flagship device.

Under the pro rata non-renounceable rights issue, eligible shareholders will be able to acquire eight shares for every 11 shares held at an issue price of 1 cent per share.

The rights issue is full underwritten by Pinnacle Corporate Finance.

Quantify iS focused on developing its Q-Device, a management services and utilities device THAT provides real-time environmental and risk factors for building occupants, to create intelligent buildings.

“Quantify has a number of successful trials in progress and an exciting opportunity as it moves into the commercialisation phase,” chief executive Brett Savill said.

“Customers, property owners and developers all want the simple, limitless solution to automated living that we can provide.”

The news comes after the company recently announced a board restructure and the first commercial sale of the Q-Device.

Shares in Quantify fell 23.81 per cent to 1.6 cents each today.