Shaw and Partners appointed as Sole Lead Manager to the capital raising by Spirit Telecom News18 Aug 2020

ASX-listed internet services business Spirit Telecom is in front of investors seeking a $23 million equity injection.

 

The company's shares went into a trading halt on Tuesday morning as its broker Shaw and Partners rustled up buyers.

 

It is understood Spirit was seeking to raise $18 million in a placement of new shares and up to another $5 million from existing investors via a share purchase plan.

 

Funds raised would be used to buy a handful of small internet service providers. It is understood Spirit has agreed to pay $6 million cash and issue scrip worth $2 million for three IT services companies on Australia's east coast, leaving $4 million for marketing and investment and $11 million for future deals.

 

The raising was at 32¢ a share, which was a 13.5 per cent discount to the last close of 37¢.

 

The company had a $170.2 million market capitalisation prior to the raising.

 

The raising comes two weeks after Spirit Telecom told shareholders its revenue was up 14 per cent in the fourth quarter.

 

The offer is available to Australian Sophisticated and Professional Investors that are existing Spirit Telecom Limited shareholders only

 

Article source: AFR, 18 August 2020

Related Articles
News03 Mar 2021 Shaw and Partners Brand Ambassador Ali Day makes history
On Sunday 28 of February, the six-time Coolangatta Gold champion achieved what no Ironman or Ironwoman has ever been able to achieve in the thirty-five year history of the Nutri-Gr... Read More
News01 Mar 2021 Shaw and Partners appointed as Joint Lead Manager to the proposed capital raising by Whispir
Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by Whispir Limited (ASX.WSP).   The Company is proposing to raise up to approxi... Read More
News24 Feb 2021 Shaw and Partners appointed Co-Manager to the CommBank PERLS XIII Capital Notes offer
Commonwealth Bank of Australia (CBA) has today announced the offer for a new Tier 1 Hybrid, CommBank PERLS XIII Capital Notes (PERLS XIII)   Shaw and Partners is pleased to be ap... Read More
News23 Feb 2021 Shaw and Partners signs on as naming rights sponsor of the Shaw and Partners Atlantic Crew
Shaw and Partners is excited to announce its latest charitable initiative. In partnership with Gotcha4Life, Shaw and Partners has signed on as naming rights sponsor of the Shaw and... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%