Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Auctus Investment Group (AVC) receives firm commitments to undertake a $10.07 million placement
  • The money will be raised through the issue of 9.5 million new fully paid ordinary shares to sophisticated investors at $1.06
  • Auctus will use the funds to focus on its growth and explore new asset management and investment opportunities
  • Shares are expected to settle on June 25 and be allocated and quoted on June 29
  • Auctus is steady on the market with shares trading at $1.08 at 1:40 pm AEST

Auctus Investment Group (AVC) has received firm commitments to undertake a $10.07 million placement.

The company entered a trading halt on June 21 but did not disclose how much it intended to raise or for what it would use the funds.

The money will be raised through the issue of 9.5 million new fully paid ordinary shares to sophisticated investors at $1.06.

Auctus will use the funds to invest into the SQ Property Opportunities Fund which is currently managed by its subsidiary, Auctus Asset Management.

Currently, the fund, along with two previous funds, is managing roughly US$135 million (A$178 million) of US-based student housing.

Additionally, Auctus intends to establish US Opportunities (USO) as an unlisted public company to be able to invest in hard to access US private equity opportunities.

The company has stated it expects to act as an investment manager to USO and will target initial capital between the range of US$20 million to US$30 million (A$26.5 million to US$39.7 million).

Shares are expected to settle on June 25 and be allocated and quoted on June 29.

Auctus was steady on the market with shares trading at $1.08 at 1:40 pm AEST.

AVC by the numbers
More From The Market Herald
Cirralto (ASX:CRO) - Managing Director, Adrian Floate

" Cirralto (ASX:CRO) brings in $400k worth of receipts over Q1

Cirralto (CRO) has released its latest quarterly financial update, revealing it ended September with just under $400,000 in customer receipts.
Wisr (ASX:WZR) - CEO, Anthony Nantes

" Wisr (ASX:WZR) adds $123m in originations to loan book

Wisr (WZR) has added another $123 million in originations to its loan book during the recently completed September quarter.
Humm Group (ASX:HUM) - CEO, Rebecca James

" hummgroup (ASX:HUM) 1Q22 business update

hummgroup (HUM) is trading in the green following the company’s business update for the first quarter of the 2022 financial year.
Laybuy (ASX:LBY) - Managing Director, Gary Rohloff

" Laybuy Group (ASX:LBY) signs new £30 million loan

Laybuy Group (LBY) has signed a new £30 million (A$55.3 million) debt facility with US specialist lenders Partners for Growth.