Shaw and Partners is pleased to be appointed as Co-Lead manager to the capital raising by Zip Co Limited.

Zip is undertaking a fully underwritten institutional Placement to eligible institutional, professional and sophisticated investors to raise approximately A$148.7 million at a fixed price of A$1.90.

The offer price of $1.90 per share represents a 14% discount to Zip’s last closing price on 25 February 2022 of A$2.21 per share; and a 15% discount to the VWAP of Zip ordinary shares traded during the 5 trading days up to and including 25 February 2022 of A$2.23 per share.

In addition, Zip is offering non-underwritten share purchase plan to eligible Zip shareholders in Australia and New Zealand to raise up to A$50 million.

Proceeds of the Placement will help Zip strengthen its balance sheet and positions Zip for sustainable growth by providing more capital runway to execute on potential synergies from the Acquisition of Sezzle.

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

For more information please contact your Shaw and Partners Adviser.