Axsesstoday Limited (ASX:AXL) announced a private placement of 8,000,000 shares at a price of AUD 1.5 per share for gross proceeds of AUD 12,000,000 on October 18, 2017. The company will issue shares to both new and existing institutional and sophisticated investors. The transaction will consist of two tranches. In the first tranche the company will issue 6,922,600 shares for proceeds of AUD 10,383,900 and in the second tranche the company will issue 1,077,400 for proceeds of AUD 1,616,100. The transaction is subject to shareholder approval.