Shaw and Partners acted as Joint Lead Manager to the capital raising by CV Check News10 Feb 2021

Shaw and Partners was pleased to be appointed as Joint Lead Manager to the capital raising by CV Check (ASX: CV1)


The company successfully raised $10.5 million via unconditional placement of approximately 63.6 million new ordinary fully paid shares issued at $0.165 per security.


The offer price of $0.165 represented a 5.7% discount to last close of $0.175, a 1% discount to 5-day VWAP of $0.167 and a 4.9% discount to 15-day VWAP of $0.173.


The funds raised under the offer will primarily be applied to the acquisition of the Bright People Technologies. The combination of CV Check and Bright People Technologies will create a credentials-based workforce management capability built on Bright’s workforce compliance strength and the CV Check platform’s highly automated verification workflows and HRIS integrations.


CV1 Chairman, Ivan Gustavino, commented "Bright is an excellent strategic fit to CV1. Combining our complementary platforms and products will create a credentials-based workforce management capability to address growing demands from our existing and future customers. In addition to the obvious synergies of combining the two companies, technical capabilities and experience of both teams, it will also see CV1 expand by adding accretive SaaS based revenues. This is truly transformative."


The offer was available to Australian Sophisticated and Professional Investors only.


For more information please contact your Shaw and Partners Adviser.


About CV Check

CV Check conduct more than 300,000 verification checks every year for private and government organisations, employers and individuals. CVCheck listed on the Australian Stock Exchange in September 2015 and is now one of the few Australian public companies entirely dedicated to the verification and secure sharing of personal and professional information.

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