Wavefront imaging company, Iatia (ASX:IAT) has completed its Share Purchase Plan (SPP) and shareholders have demonstrated their strong support for the company. The SPP has succeeded in raising $287,000. The SPP offered all shareholders the opportunity to support the continuing growth and success of Iatia's technology.

Iatia has also made its first drawn down from the Fortrend Equity Standby Facility. This facility will also assist in meeting the needs of the growing company.

Charles Laycock, Iatia's CEO, said, "We are delighted with the result. This support from our shareholders demonstrates an enhanced confidence in our ongoing business strategy."

The funds raised will be used for the development of existing collaboration efforts; continuing expansion of marketing efforts; completion of negotiations with potential customers; acceleration of new market development in the USA and Europe; and additional working capital.