Total
0
Shares
Wisr (ASX:WZR) - CEO, Anthony Nantes
CEO, Anthony Nantes
Source: Wisr
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Wisr (WZR) closes its share purchase plan (SPP) offer substantially oversubscribed
  • The company has received subscriptions for the SPP in excess of $10 million but has elected to maintain its original offer cap of $5 million
  • The SPP follows a recent placement to sophisticated and institutional investors to raise $50 million
  • The new shares will be issued at 25 cents each and are expected to be allotted on June 29
  • Wisr is up 2.04 per cent, trading at 25 cents at 3:40 pm AEST

Wisr (WZR) has closed its share purchase plan (SPP) offer substantially oversubscribed.

Wisr provides a collection of financial products and services to help Australians pay down debt, as well as offering multiple credit score comparison services.

The SPP follows a recent placement to sophisticated and institutional investors to raise $50 million.

The company received subscriptions for the SPP in excess of $10 million but has elected to maintain its original offer cap of $5 million.  Applications will all be scaled back proportionally to around 46 per cent of the application value, with no guaranteed minimum allocation.

The company says proceeds from the SPP and placement will go towards book growth, technology investment and feature enhancement. It also aims to expand its addressable market by exploring new growth opportunities.

Wisr will issue around 20 million new fully paid ordinary shares, which will rank equally with existing shares from their date of issue. The new shares will be issued at 25 cents each and are expected to be allotted on June 29.

Chief Executive Officer of Wisr Anthony Nantes said: “We would like to thank our shareholders for their ongoing support and endorsement of the company’s business model and look forward to delivering on the strategic initiatives which are now well-funded.”

Wisr was up 2.04 per cent, trading at 25 cents at 3:40 pm AEST.

WZR 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.