News and Announcements
Collaborate Secures Underwriting For $1.26 Million Of Listed Options
- Published February 10, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
- Existing Collaborate shareholders underwrite $1.26 million of listed CL8O options.
- $500,000 of funds to be advanced immediately to provide funding for operations.
- Anticipated drawdowns via the Flexible Equity Facility halted in preference to raising funds via exercise of options.
Collaborate Corporation Limited (ASX:CL8 or the Company) is pleased to announce that the Company has entered into agreements with existing sophisticated investors (Underwriters) to underwrite the exercise of 63 million of the Company’s quoted options (ASX:CL8O) (Underwriting Agreements), representing approximately 37% of CL8O options on issue. Originally targeting $1 million of underwriting, the Company is very pleased with the overapplication and support shown by the underwriters.
The Underwriting Agreements will guarantee that the Company receives $1.26 million (Underwritten Amounts) before costs and also grants the Underwriters a first right of refusal on any unexercised CL8O options. The underwriting places the Company in a strong financial position to drive growth of the peer-to-peer marketplaces, support the launch of Mobilise, pursue investment opportunities that align with the Company’s peer-to-peer strategy as well as supplement working capital.
To view the full ASX Announcement, please click here.
Company Updates
Forget Startups: Why Magnetic Alliance is Betting on “Boring” Mid-Market Turnarounds
While Australia’s venture capital scene spent years chasing unprofitable tech startups and speculative high-growth plays, Mark Lim was quietly taking a radically different path. The Managing Partner of Magnetic Alliance Capital sees the nation’s richest investment opportunities hiding in plain sight: inside thousands of unglamorous, profitable, but operationally sluggish mid-market businesses. Speaking on Wholesale Investor’s […]
The asset class where the market has no vote
Litigation funding returns are decided in a courtroom, not a cycle. Knightsbridge’s Head of Capital is careful to call that a different risk rather than a lower one, and his answer to it is spread, not concentration. Most alternative assets still answer to something. Property answers to rates. Private credit answers to defaults. Even the […]
The listing fee vendors pay whether the house sells or not
Australia’s property portals collect more than $2 billion a year while national listings sit flat. An Australian-built AI platform is targeting the economics, not just the interface. An Australian vendor listing a home pays a vendor-paid advertising fee on top of agency commission. Rama Dwarapudi, Founder and Chief Executive Officer of RealSearch, puts a typical […]
Backed By Leading Investment Groups and Family Offices
