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- Cloud-based communications platform Whispir (WSP) has raised $45.3 million as it looks to accelerate its growth strategy in key markets
- The company will issue 12.1 million shares to sophisticated and institutional investors at $3.75 each
- A separate share purchase plan to eligible investors is now being offered with the aim of raising a further $3 million
- The proceeds will be used to drive customer growth in Australia, New Zealand and Asia, and bolster expansion in North America
- Whispir is down 3.6 per cent to $3.75 per share
Cloud-based communications platform Whispir (WSP) has raised $45.3 million as it looks to accelerate its growth strategy in key markets.
The company will issue 12.1 million shares — equivalent to 11.6 per cent of Whispir’s capital prior to the financing — to sophisticated and institutional investors at $3.75 each, which are scheduled to begin trading on March 9.
This price represents a 3.6 per cent discount compared to the company’s closing share price of $3.89 per share on March 1.
Once complete, a separate share purchase plan will be offered to investors with the aim of raising a further $3 million.
Eligible shareholders — those based in either Australia or New Zealand on Whispir’s registry as of March 1 — will be entitled to apply for up to $30,000 worth of new shares, also at $3.75 each.
Should the non-underwritten offer exceed $3 million, Whispir will have the option to either accept or scale back share purchase applications from shareholders.
The proceeds raised will be used to accelerate Whispir’s product road map, drive customer growth in Australia, New Zealand and Asia, and increase investments focused on North American expansion.
“Digitisation tailwinds provide a significant opportunity for us to fast-track our product roadmap, delivering higher-value products to drive platform utilisation and adoption,” said Jeromy Wells, CEO of Whispir.
“Funds raised will also enable us to increase our presence within the competitive North American market,” he added.
Whispir is down 3.6 per cent to $3.75 per share at 2:55 pm AEDT.
