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Airtasker (ASX:ART) acquires Zaarly and launches $20.7M capital raise
Airtasker CEO Tim Fung Source: Airtasker
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  • Airtasker (ART) has acquired U.S. service marketplace Zaarly and launched a $20.7 million capital raise
  • The online outsourcing business entered a trading halt ahead of the announcements released on Friday
  • ART has since revealed it paid around $3.4 million for Zaarly, which boasts 597,000 registered users and more than 900 verified service providers
  • To cover the cost of the acquisition and to help accelerate ART's international expansion, the company has launched a fully underwritten placement
  • Under the offer, investors are able to buy Airtasker's shares at $1 each, with the placement scheduled to settle next week
  • Before today's trading halt came into effect, company shares were trading at $1.08 per share

Airtasker (ART) has acquired U.S. service marketplace Zaarly and launched a $20.7 million capital raise.

The online outsourcing business placed its securities in a trading halt ahead of the announcements being released on Friday morning.

The company revealed it paid around $3.4 million for Zaarly, which boasts 597,000 registered users and more than 900 verified service providers.

Zaarly's CEO Bo Fishback will join Airtasker to help lead the company's U.S. expansion.

Meanwhile, to help fund the acquisition and international expansion, ART has launched a $20.7 million fully underwritten placement.

Under the offer, investors are able to buy Airtasker's shares at a discounted price of $1 each, with the placement scheduled to settle next Thursday, May 27.

A total of 20.7 million ART shares will be issued under the placement, which is being issued within Airtasker’s existing placement capacity.

Before today's trading halt came into effect, company shares were trading at $1.08 per share on Thursday, May 20.

The trading halt is due to expire on Tuesday, May 25.

ART by the numbers
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