News and Announcements
LatAm Autos Raises $10 Million
- Published April 13, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Online Car Retailer, LatAm Autos Limited (ASX:LAA) has raised $10 million and is set for a return to the ASX boards, sources said on Wednesday April 12, 2017.
It is understood that a group of private investors, including board member Simon Clausen and Michael Fitzpatrick, have tipped into a convertible note which will bankroll the South American-focused automotive classifieds by business through to a break-even position in the third-quarter 2018.
KEY TAKEAWAYS:
- LatAm operates in Argentina, Mexico, Ecuador, Peru, Panama and Bolivia
- Strategic review concluded to focus on Mexican and Ecuadorean markets.
- Which gives it a US$685 million target market.
- The company was founded in 2016 by Australians, Tim Handley and Gareth Bannan who set out to create a regional platform by aggregating online auto classifieds companies.
Funding for the updated strategy has been secured through the fully underwritten A$10m convertible note issuance, which is expected to provide the necessary capital for LatAm Autos to reach cash flow breakeven.
LatAm Autos continues to progress discussions and proposals from strategic parties interested in acquiring selected country specific operations of LatAm Autos. The Company continues to assess the merits of the proposals and has made a decision to retain and invest into its Mexican and Ecuadorian businesses which it believes presents the best opportunity for shareholder value creation at the current time.
LatAm Autos is a leading dedicated online auto classifieds and content platform with operations in six countries in Latin America- Mexico, Argentina, Ecuador, Peru, Panama and Bolivia. As early movers in the region’s online auto classifieds industry, LatAm Autos is positioned to capitalise on the shift of auto classifieds advertising from traditional print media sources to online channels.
Company Updates
From Algae Pioneers to a Natural Revolution: The Second Act of WRS Bioproducts
As the US FDA prepares to phase out synthetic food colors by the end of 2026, WRS Bioproducts is stepping in to solve a looming supply crisis. Led by industry pioneer Harry Rosen, the company is leveraging 40 years of industrial algae farming expertise to scale production of natural, superior-quality beta-carotene, positioning itself as a vital supplier in the rapidly shifting global market for natural ingredients.
Dying for a Cure: Why Astraea is Stress-Testing the Future of Space Medicine
Astraea Technologies is solving a critical “blind spot” in the $1.5T space economy. Co-founders Brooke Mills and Gordon Carroll discuss their $5M seed raise, the HIRO-LAB platform, and their upcoming 2028 mission to the Moon to validate life-saving medicine in extreme environments.
Beyond the Drip: Elemental IV’s Infrastructure Play for a Fragile Supply Chain
In the high-stakes world of life sciences, we often hunt for the next “miracle molecule” or gene-editing breakthrough. But Storme Paes, Founder and Commercial Director of Elemental IV, found her mission in something far more fundamental, yet dangerously overlooked: a simple bag of saltwater. The “Meeting Room” Revelation The genesis of Elemental IV didn’t occur […]
Backed By Leading Investment Groups and Family Offices
