Shaw and Partners appointed as Joint Lead Manager to a capital raising by DUG Technology Corporate17 Oct 2024

Shaw and Partners is pleased to be appointed as Joint Lead Manager and Joint Bookrunner to a capital raising by DUG Technology Limited (ASX:DUG)

 

DUG is raising up to approximately A$30.0 million via an institutional placement comprising: an unconditional placement of approximately $30.0 million through the issuance 15.8 million new fully paid ordinary shares (“New Shares”) under Listing Rule 7.1 (“Tranche 1”); and a conditional placement of approximately $0.2 million (“Tranche 2”) of approximately 0.1 million New Shares to Directors of the Company, subject to shareholder approval expected to be obtained at the Company’s AGM on 19 November 2024 (together the ”Placement”).

 

In addition, the Company intends to undertake a Share Purchase Plan (“SPP”) to raise up to a further A$5.0 million on the same terms as the Placement (together the “Offer”)

 

The Offer will be set at an Offer Price of A$1.90 per new share and will result in the issuance of up to approximately 15.9 million new fully paid ordinary shares in the Issuer.

 

New securities issued under the Offer will be issued at $1.90 per share. The Offer Price reflects a: 12.8% discount to the last traded price on 15 October 2024 of A$2.18 and a 15.3% discount to the 10-day VWAP of $2.24.

 

Proceeds from the Offer will be used to accelerate the Company’s growth trajectory, including investment in new verticals and geographic expansion 

 

DUG Technology Ltd (“DUG”) specialises in analytical software development, big-data services and reliable, green, high-performance computing (“HPC”). DUG delivers innovative software products and cost-effective, cloud-based HPC as a service backed by bespoke support for technology onboarding. The offer is available to Australian Sophisticated and Professional Investors only.

 

This offer is available to Wholesale investors only (as that term is defined in the Corporations Act). Shaw and Partners Limited acted as Joint Lead Manager for DUG Technology Limited in relation to the offer and received fees for that service.

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