Shaw and Partners is pleased to be appointed as Co-Manager to a proposed placement by Openpay Group Limited (ASX.OPY)

Openpay is seeking to raise up to $32.3 million by way of an issue of new shares at $2.03 per share.

The offer price of $2.03 per share represents a 15.8% discount to the last close of $2.41, a 19.9% discount to the 5 day VWAP of $2.533 and a 21.2% discount to the 10 day VWAP of $2.577.

Proceeds of the offer will be used to fund US capability development, including technology platform, product, and customer journey development and integrations for merchant acquisition.

The offer is available to Australian Sophisticated and Professional Investor clients only.

For more information please contact your Shaw and Partners adviser.

About Openpay

Openpay is an established player in the fast-growing global market for ‘Buy now pay later’ (“BNPL”) payment solutions.  Openpay partners with merchants to provide BNPL repayment plans to customers in-store, in-app, and online. Openpay’s BNPL offering allows customers to purchase what they want and need while spreading repayments over time with no interest costs. The company provides services to customers and merchants in Australia, United Kingdom, and New Zealand, and is launching into the USA.