DC Two raises $2.5 million to scale data centre and cloud tech business

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Data centre, cloud and software business DC Two (ASX: DC2) has emerged from a trading halt to announce it has raised $2.5 million in a share placement strongly supported by institutional and high net-worth investors.
DC Two's directors also participated in the placement, which will see the company issue 16.66 million new fully shares at $0.15 each, with a 1:2 free attaching option exercisable at $0.30 per share and expiring two years from the date of issue.

Funds will be used to complete Tier III design and construction accreditation of DC Two's Bibra Lake data centre in Perth, fulfill an estimated $2.7 million in existing contracts and expand the sales team to drive further growth with a focus on enterprise customers.

DC Two managing director Justin Thomas said the funding will unlock the ability to grow the company and scale its presence in key markets.

"We are delighted with the outcome of the placement, which has secured interest from new and existing investors who are committed to our vision of becoming a major player within the Australian data centre sector and recognise DC Two's potential."

The placement will be completed in two…
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