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  • AssetOwl (AS1) plans to issue almost 800 million new shares at the cost of 3 cents per share for the goal of raising $2.26 million
  • The capital raise also includes the proposed issue of 109 million new shares to new and existing professional and sophisticated investors to raise $325,731
  • The money raised through the release of the new shares will be used to fund AO1’s eastern coast expansion
  • The maximum number of new shares to be issues is 646 million shares based on the undiluted share capital of AssetOwl and according to the end of trade yesterday
  • Sequoia Corporate Finance Pty Ltd acted as Lead Manager for the Placement

AssetOwl (AS1) has plans to issue almost 800 million new shares at the cost of 3 cents per share for the goal of raising $2.26 million.

The capital raise also includes the proposed issue of 109 million new shares to new and existing professional and sophisticated investors to raise $325,731 for which AO1 has received firm commitments.

The money raised through the release of the new shares will be used to fund AO1’s eastern coast expansion, support marketing initiatives and provide the business with ongoing working capital.

Further details of the entitlement offer are expected to be lodged on Monday, January 7.

The maximum number of new shares to be issued is 646 million shares based on the undiluted share capital of AssetOwl and according to the end of trade yesterday.

Shares will otherwise be offered to shareholders who have expressed interest and who are on AO1’s register on the record date, anticipated to be on or around Thursday, February 10.

The rights Issue is anticipated to be open for acceptance from Tuesday, 15 February until 8 pm AEDT on Thursday, March, 24 2022.

A substantial shareholder in AO1 through the overlapping of management is Tribis. The related parties have agreed to take up their entitlements under the offer amounting to $159,479.

This transaction is subject to shareholder approval and will be decided upon in a meeting scheduled to be held in March.

Sequoia Corporate Finance acted as Lead Manager for the Placement.

“Our strategy has allowed us to move forward with our plan to achieve penetration of the residential property management market Australia-wide, from our home market of Western Australia to the east coast markets of Victoria, New South Wales and Queensland, with our Pirsee real estate inspection platform,” Executive Officer, Geoff Goldsmith said.

AO1 by the numbers
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