Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Airtasker (ART) launches $6.25 million capital raise to acquire Australia’s third largest local services platform Oneflare
  • Co-founder and CEO Tim Fung says bringing together Airtasker and Oneflare will “create Australia’s number one marketplace for local services” and in turn provide customers with greater access to services
  • The company says the total purchase price is $9.8 million, including the equity raise and $2.25 million cash
  • Airtasker is currently in a trading halt and last traded at 51 cents per share

Airtasker (ART) has launched a a $6.25 million capital raise to acquire Australia’s third largest local services platform Oneflare.

Oneflare provides higher value services including trades, home improvement and professional services to customers.

Co-founder and CEO Tim Fung said Oneflare combined with Airtasker will “create Australia’s number one marketplace for local services”.

The company says it means customers will have access to a greater range of local services and skills, along with faster response times, whilst creating more job opportunities.

The total purchase price of $9.8 million comprises of $7.55 million Airtasker shares and $2.25 million in cash.

The $6.25 million capital raise will see an underwritten placement of 14.5 million new shares at 43 cents per share.

The placement is expected to settle on 11 May, 2022 and the shares issued under the placement will be issued on 12 May, 2022.

Airtasker Directors will subscribe for $3.55 million in the placement, which will be subject to shareholder approval.

ART is currently in a trading halt, with shares last traded at 51 cents.

ART by the numbers
More From The Market Herald
The Market Herald Video

" Aurora Energy Metals (ASX:1AE) defies market pressures with solid ASX debut 

Aurora Energy Metals (ASX:1AE) continues to defy market pressures on day two of trading, with shares up…
Invictus Energy (ASX:IVZ) - Non Executive Chairman, Dr Stuart Lake

" Invictus Energy (ASX:IVZ) enters trading halt for capital raise

Invictus Energy (ASX:IVZ) has placed its shares in a trading halt pending the release of a…
Australian Vanadium (ASX:AVL) - Managing Director, Vincent Algar

" Australian Vanadium (ASX:AVL) enters mid-week trading halt

Australian Vanadium (ASX:AVL) has entered a mid-week trading halt pending an upcoming capital raising.

" Brisbane Broncos (ASX:BBL) shares up following AGM

Brisbane Broncos (ASX:BBL) shares are in the green today following its annual general meeting.