DigitalX Ltd (ASX:DCC), a technology company specialising in blockchain application development and digital asset management services, today announces the completion of its placement to U.S. institutional investors, raising a total of A$8,816,684 (before costs).

The company intends to use the net proceeds from the placement to accelerate growth in its business, including the ongoing promotion of its Bitcoin and digital asset investment funds and the rollout of Drawbridge – its new RegTech product for publicly traded companies and general working capital purposes.

The company has today issued 97,963,164 shares at a price of $0.09. In addition to the new shares, the company issued 55,839,003 warrants. These warrants comprise 48,981,582 warrants issued to investors in the Placement, exercisable at of $0.10 each and expiring on 9 March 2024, as well as further 6,857,421 warrants issued as part consideration for capital raising services in relation to the Placement, exercisable at $0.1125 each and expiring on 9 March 2024.

Leigh Travers, Executive Director of DigitalX commented:

“We are pleased to complete the Placement and to welcome the support from our new U.S. institutional investors to the register. We look forward to accelerating our growth plans with this significant capital base”.