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AnalytixInsight To Raise $800,000 To Fund Potential Acquisitions

|Includes: Analytixinsight Inc (ATIXF)

AnalytixInsight (CVE:ALY) is planning to raise C$800,000 through a non-brokered private placement financing, the big data analytics firm said Thursday.

The offering will be made up of 2.96 million units priced at 27 cents apiece, with each being comprised of one common share and one half of a share purchase warrant. Every warrant will allow the holder to acquire an additional share at a price of 50 cents, for a period of one year from closing.

The offering is slated to close around November 14.

The company said the new funds will be used for general working capital and to help finance potential acquisitions, perhaps to accelerate its growth in the business-to-business segment.

Last month, the company inked a strategic partnership with India-based IRIS Business Services to service clients and explore business opportunities together in the financial data analytics space. AnalytixInsight said the deal would grow its data analytics platform in the b2b space, and help boost its top line.

The preliminary deal represents another significant step in AnalytixInsight's growth strategy of building financial and non-financial content of its big data analytics engine, driving greater penetration of its content through institutional, online and mobile channels.