SenSen shares surge 35% after raising $3.3 million at a premium; signs global distribution agreement
SenSen Networks Ltd (ASX:SNS) has executed a global, exclusive, SenGAME 3.0 distribution agreement with Angel Japan Co., Ltd.
SenGAME 3.0 is proprietary SenSen software that is installed on casino gaming tables.
The software processes video images in real time, to determine the number of players at the table and hands dealt per hour, as well as the number, type, and value of all bets placed.
This information can be used for business intelligence purposes.
SenSen is also undertaking a ~$3.3 million private placement to Angel for a total of about 22 million shares, equal to about 4.99% of the total post-placement issued shares of SenSen.
Notably, the placement is being conducted at a price of 15 cents per share, an ~68% premium to the closing price of SenSen shares on December 4 2019.
SenSen Launches in the USA with key first order!https://t.co/o1oTZZnqQE pic.twitter.com/tZFbtlJxAD
— SenSen Networks (@sensennet) October 31, 2019
SenSen CEO Subhash Challa said: “This is undoubtedly a transformational deal for SenSen and its Read More – Source
