One Click (ASX:1CG), an Australian provider of taxation preparation software and services, experienced a dramatic drop in share price, falling as much as 17.7% to A$0.014.

This marks the company’s most substantial intra-day fall since June 20.

The plunge also drove the stock to its lowest level since July 14.

The decline came in the wake of the company’s A$1.7 million non-renounceable entitlement offer announcement, with an issue price set at A$0.015 per share, presenting an 11.8% discount to the stock’s last closing.

The company has stated intentions to use these funds for marketing, product development, and other ventures.

Despite the sharp loss, the stock has seen an uptrend this year, up 54.5% Year to Date as of the last closing.

One Click is an Australian taxation preparation software and service provider.