Audinate Group Limited (ASX:AD8) announced private placement of 5,436,894 shares at a price of AUD 5.15 per share for gross proceeds of AUD 28,000,004 on July 22, 2020. The transaction will involve participation from existing and new institutional investors. The company will raise funding through oversubscribed institutional placement. The transaction has been approved by the board of directors of the company. The transaction is expected to close on July 28, 2020.