News and Announcements
Crowd Mobile Announces Fully Underwritten Rights Issue to Raise Circa $12.8m
- Published September 21, 2015 2:56PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
17th September 2015, ASX Announcement
Crowd Mobile Limited (Crowd Mobile or the Company) is pleased to announce that it is undertaking a pro-rata fully Underwritten Non-renounceable Rights Issue (Offer or Rights Issue)
Key highlights of the Rights Issue:
- Fully Underwritten Non-renounceable Rights Issue to raise circa $12.8 million
- Rights issue on a 3:5 basis at an issue price of $0.25 per share
- Commitments received from institutional and high net worth investors
- All directors and senior management commit $1.77 million in sub-underwriting
- Funds raised will contribute towards completing the Track Holdings acquisition
The Offer is fully Underwritten and DJ Carmichael Pty Ltd is acting as Lead Manager and Underwriter for the Rights Issue. Funds rasied from the Offer will be used to fund the acquisition of 100% of the share capital in Netherlands based m-payments company Track Holdings B.V. (Track), as announced to the market on 10 June 2015 (Track Acquisition). The Offer is conditional upon the successful completion of the track Acquisition.
To read the full announcement, please click here.
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