Shaw and Partners appointed Joint Lead Manager to the Tesserent capital raising News24 Sep 2021

Shaw and Partners is raising $20 million for ASX-listed Tesserent Limited, as the cybersecurity firm lines up acquisitions.

 

The offer is priced at 21¢ and an 11 per cent discount to last close.

 

The book shuts at 3:30pm today, after strong cornerstone support early on.

 

Tesserent is a cybersecurity provider, and the largest among its pack for federal government business.

 

The $20 million raising will fund Tesserent’s acquisitions, where it is typically looking to pay five to six times the EBITDA, Shaw and Partners told potential investors.

For Tesserent itself, Shaw and Partners is touting EBITDA of $17.9 million for the 2022 financial year.

 

The company posted $96.7 million in turnover in the 2021 financial year, which was up 370 per cent to previous corresponding period.

 

This is not the first time Tesserent is raising for an acquisition.

 

In 2019, it paid $3.25 million for Rivium at five times the EBITDA. It funded the acquisition via a $2 million or so raise led by Taylor Collison.

Related Articles
News14 Aug 2022 Covers Taken Off Boost Wildcard Livery
Boost Mobile Racing powered by Erebus has lifted the covers off the wildcard Greg Murphy and Richie Stanaway will run at this year’s Bathurst 1000.   The fresh paint scheme was u... Read More
News12 Aug 2022 Shaw and Partners teams up with Jack Perkins to pay homage to his father's Holden past
Jack Perkins will pay homage to father Larry’s Holden past with a special livery for his Super2 cameo.   The second-generation driver will line up in an Eggleston Motorsport Comm... Read More
News11 Aug 2022 Congratulations on Shaw Managed Accounts surpassing $2 billion in FUM
It's a great time to be at Shaw and Partners! We are excited to celebrate the successes of the Shaw Managed Accounts surpassing $2 billion in FUM, which is an incredible accomplish... Read More
News09 Aug 2022 Shaw Managed Accounts reach $2 billion in Funds Under Management
Shaw Managed Accounts reach $2 billion in Funds Under Management   Shaw and Partners is proud to announce that Funds Under Management in its market leading Shaw Managed Accounts ... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%