Shaw and Partners appointed as Joint Lead Manager to the proposed capital raising by Audinate Group News05 Jun 2019

Shaw and Partners has been appointed as Joint Lead Manager to the proposed capital raising by Audinate (ASX.AD8).

 

Audinate is proposing to raise up to ~A$20.0m, via a placement of up to approximately 2.86m new ordinary fully paid shares at $7.00 per security. The price represents a 8% discount to the 5-day VWAP of A$7.61.

 

The capital is intended to be used across four separate strategic initiatives:

 

  • Expand global sales penetration – accelerate sales, marketing and training footprint across new product markets and geographies.
  • Accelerate recent product initiatives – expand product range of Dante AVIO adapters and Dante AV and shorten timeframe for Dante software implementations.
  • Develop the next generation Dante platform – development of next generation Dante “IOT” software endpoints and continue the extension of the software platform beyond the Dante Domain manager.
  •  Provide additional balance sheet strength and flexibility – to support growth and solidify competitive advantage, including potential strategic acquisitions.

 

In June 2017 we were appointed Sole Lead Manager and Underwriter to the Audinate Group IPO, raising $21 million with an offering price of $1.22 per share.

 

THIS OFFER IS OPEN TO SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY

 

For more information please contact your Shaw and Partners Adviser.

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