Unith (ASX:UNT) to tap investors for fresh funds

Artificial intelligence (AI) specialist Unith (UNT) has called a trading halt in order to tap investors for some fresh funding. The company entered the trading halt on Thursday morning citing the planned capital raise, though it has not yet revealed the details of the raise. At this stage, shares will resume trade by market open on Monday morning, by which stage Unith plans to have announced how much it seeks to raise and how it will go about raising the funds. The company is fresh off a major rebranding in late-2022 when it changed its name from Crowd Media to Unith to better reflect the ongoing development of its "clean, commercial and agile" conversational AI technology. The company's core Talking Head technology is designed to humanise chatbots and improve business-human interactions.