This morning software-as-a-service delivery logistics business GetSwift Ltd (ASX: GSW) returned to trade after announcing to the market that it has raised $75 million at $4 a share to invest into the business for growth.
According to the company 18,750,000 million shares will be placed into the market with "Fidelity International" named as a "cornerstone investor to the placement".
As far as I'm aware Fidelity International is an international investment manager and investment platform administrator that runs a couple of Australian equity funds focused on the large-cap end of the market.
Notably, another largely pre-revenue business in ResApp Health Ltd (ASX: RAP) also boasted of having "Fidelity International" as a substantial shareholder and investor in a February presentation to the market.
GetSwift reports that the funds raised will be used to "accelerate its conversion of strong demand opportunities in its global client pipeline, advance new product development initiatives and facilitate general new working capital requirements".
This afternoon the shares have swung between $3.77 and $4.24 on their return to the boards as investors remain uncertain how to value the company.
