Total
0
Shares
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Swift Media (SW1) has announced it will undertake a $4 million capital raise to speed-up growth
  • The entertainment specialist entered a trading halt today and has since outlined some details of its upcoming raise
  • Swift will bring in the $4 million via a $3 million placement and a $1 million share purchase plan
  • However, details surrounding the number of shares to be issued and their price are yet to be released
  • Swift Media will remain in the halt until the placement has been completed which the company expects to be tomorrow, November 20
  • Shares in SW1 last traded for 4.9 cents on November 18

Swift Media (SW1) has announced it will undertake a $4 million capital raise to speed-up growth.

The entertainment specialist entered a trading halt today and has since outlined some details of its upcoming raise.

Swift will bring in the $4 million via a $3 million placement and a $1 million share purchase plan.

Placement

The placement will be conducted via a bookbuild, to be completed today, and Swift Media has already received strong expressions of interest from sophisticated and professional investors, as well as company directors.

Shares will then be issued on November 26.

Share purchase plan

Under the share purchase plan, eligible shareholders will be able to subscribe for up to $30,000 in shares to raise $1 million.

The share price is not yet known, but it will be the lower of either the placement price or a two per cent discount to the five-day volume-weighted average price of SW1 shares.

The SPP will open November 27, close on December 11, and shares will be issued on December 15.

"We very much appreciate the strong indicative support being received for the placement during the bookbuild stage. That we can embark on this latest raise is an encouraging sign that our accelerated growth strategy is resonating with investors," CEO Pippa Leary said.

"A successful raise will further strengthen our balance sheet and position us to capitalise on the significant growth opportunities in our mining and resources, and aged care verticals," she added.

Swift Media will remain in the halt until the placement has been completed, which the company expects to happen tomorrow, November 20.

Shares in SW1 last traded for 4.9 cents on November 18.

SW1 by the numbers
More From The Market Herald
Credit Intelligence (ASX:CI1) - Managing Director & CEO, Jimmie Wong - The Market Herald

" Credit Intelligence (ASX:CI1) enters trading halt ahead of capital raise

Fintech company Credit Intelligence (CI1) has placed its shares in a trading halt ahead of an upcoming capital raise.
ioneer (ASX:INR) - Managing Director, Bernard Rowe - The Market Herald

" ioneer (ASX:INR) enters trading halt ahead of capital raise

ioneer (INR) has entered into a trading halt ahead of an upcoming capital raise.
Kula Gold (ASX:KGD) to begin drilling at Airfield next week

" Kula Gold (ASX:KGD) enters trading halt, plans capital raise

Kula Gold (KGD) has entered a trading halt for the purpose of considering, planning and executing a capital raising.
New World Resources (ASX:NWC) set to raise $10M for Antler

" Whispir (ASX:WSP) ends Monday in trading halt

Whispir (WSP) has entered a trading halt at the end of Monday’s trading session as it gets ready to raise more capital.