iWOW Technology sells 15 million new shares to key investor

About $2m of the gross proceeds will be used to expand the business.

iWOW Technology has issued 15 million new ordinary shares to an existing shareholder, Mehta Vimesh Piyus, at $0.20 each, following the shareholder’s interest in subscribing to new shares.

Piyush, a Singaporean private investor and entrepreneur, expressed interest in participating in the company’s future growth.

About $2m of the gross proceeds will be used to expand the business through investments, joint ventures, mergers and acquisitions. Meanwhile, the other $950,000 will be used for Age-Tech.

Upon its completion, Piyush’s share will increase from 2.73% to 7.98% and will be designated as a substantial shareholder of the company.

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