Message from the Managing Director
The Yield has had a flying start to the 2017. On the 1st January we won an global innovation award from the US-based AgTech specialists, AgFunder. This was a great confidence booster in our business. The timing was perfect for our capital raising!
The Series A capital raise has been highly successful. The round is being led by Bosch and AgFunder. Together with xxxxx, the three investors will take over 85% of the total shares on offer. These are high-quality strategic investors.
We achieved a pre-money valuation of $15 million, with a share price of $3.56. We again had significant more requests for investment that shares available.
Constitutional changes will be required to implement the associated agreement. Shareholders will be notified shortly. I would appreciate your help in rapidly turning around the documentation.
With the capital raise tucked away, we are focused on transitioning from a start-up to a fast-growing technology business. We are gearing up our sales and customer success systems, whilst at the same time finalising our core product. We are keeping a sharp eye on execution which will be critical to our success.
We are expecting 2018 to be another exciting year.