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 Oct 2021 Shaw and Partners appoints LAB Group to automate digital onboarding for its clients and financial planners
Shaw and Partners has successfully implemented LAB Group’s white labelled client onboarding solution, LABform, empowering financial advisers and desk assistants to seamlessly origi... Read More
News11 Oct 2021 Packform valued at $150m in pre-IPO round handled by Shaw and Partners
It’s full steam ahead for online packaging marketplace Packform, which has secured its $25 million pre-IPO raising at a $150 million valuation.   Founded by serial entrepreneur P... Read More
News08 Oct 2021 Former GE team raises funds for fintech MitchCap
A bunch of former GE Capital executives is poised to complete a $7.5 million pre-IPO funding round for their specialist distribution financier, MitchCap.   Having left GE when it... Read More
News06 Oct 2021 Shaw and Partners appointed as Joint-Lead Manager to the Regal Investment Fund capital raising
Shaw and Partners is delighted to be appointed as Joint-Lead Manager to the capital raising announced by Regal Investment Fund (ASX.RF1).   The equity raising comprises a Placeme... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%