- Wisr (WZR) has raised just over $33 million to accelerate the company's growth
- The placement was well-supported and saw a number of high-quality institutional investors
- The company aims to raise a further $1.5 million through a share purchase plan
- Wisr remains steady on the market this afternoon, trading at 23¢ per share
Wisr (WZR) has received commitments to raise $33.5 million to accelerate the company's growth.
The company issued 181 million shares to new and current investors at a price of 18.5¢ per share. The placement was well-supported and saw a number of high-quality institutional investors join the Wisr registration.
The placement shares will be issued in two tranches. Settlement of tranche one, 92 million shares, will be expected to occur next week. Tranche 2, 89 million shares, will be sought at a shareholder meeting in March.
Eligible shareholders will also be offers the opportunity to increase their shareholding through a share purchase plan (SPP). The price of the SPP will be the same as the placement.
Wisr aims to raise a further $1.5 million with the SPP offer.
CEO Anthony Nantes is pleased with the strong support received from the placement.
"The result is a clear validation of Wisr’s strategy and vision to provide Australians
with a smarter, fairer alternative when it comes to their personal finances, and our approach to redefining what a consumer lending company can be," he said.
“Wisr will use the proceeds of the Placement to support the scaling of the core lending business, the ongoing development of our ecosystem of category-defining products, continue to attract the best talent from across industries in Australia and strengthen the balance sheet," he added.
Wisr remains steady on the market this afternoon, trading at 23¢ per share at 2:48pm AEDT.