Shaw and Partners appointed Lead Manager to an equity capital raising by Spirit Telecom Limited News09 Apr 2020

Shaw and Partners is pleased to be appointed as Lead Manager to an equity capital raising by Spirit Telecom Limited (ASX: ST1).


Spirit Telecom is seeking to raise up to $10.0 million through a two tranche placement of approximately 90.9 million new ordinary fully paid shares at $0.11 per security. Tranche 1: Unconditional placement of 78.8m shares to raise approx. $8.7 million. Tranche 2: Conditional placement of up to 12.2m shares to raise up to approx. $1.3 million subject to shareholder approval.


New shares issued under the Placement will rank pari passu with existing securities.


The offer price of $0.11 per security represents a 21.4% discount to Spirit's last close of $0.140 and a 18.4% discount to its five-day VWAP of $0.136 (at 8 April 2020).


Spirit Telecom Limited is a leading provider of highspeed internet & IT / MSP services to SMB’s and essential industries such as hospitals, schools, aged care & government.


The offer is available to Australian resident Sophisticated and Professional Investor clients only.


For more information please contact your Shaw and Partners Adviser.


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