Dubber raises $35mn through private placement, launches SPP for another $6mn

MELBOURNE: Dubber Corporation Limited, the world’s most scalable cloud call recording service, has received firm commitments to raise $35 million via a placement to institutional, professional and sophisticated investors.

Dubber Corporation will launch a share purchase plan (SPP) offer to existing eligible shareholders to raise up to a further $6 million.

“Dubber has a leadership position globally as the unified call recording platform of choice for service and unified communications  solutions  providers”,  said  SteveMcGovern,  CEO,  Dubber. 

“We  will  meet accelerating demand globally with the expansion of our sales, marketing and product development efforts –and pursue M&A opportunities that are in the market.”

“Unified Call Recording is crucial to Enterprises meeting compliance requirements, boosting sales and CX performance; and, unlocking the potential in voice data. Dubber is the only solution capable of doing this globally, from within the network, eliminating the needs for complex hardware, software and services.”

McGovern added: “We are delighted with the support shown from investors, with bids  received  well  in excess of amounts raised under the Placement.”Shaw and Partners Limited acted as lead manager to the Placement.

Dubber raised $35million from the Placement by way of the issue of approximately 31.8 million new fully paid ordinary shares to institutional, professional and sophisticated investors, representing approximately 15.3% of Dubber’s existing issued capital.

The Placement will be conducted at $1.10 per share, which represents a 12.0% discount to the last closing price of Dubber shares on ASX  of $1.25 on 15 October 2020 and a 2.5%  discount  to the 5-day  VWAP of $1.129 as at the same date.

The shares issued under the Placement will rank equally with existing Dubber fully paid ordinary shares on issue.

Dubber will  issue  the new shares  without  shareholder  approval  in  accordance  with  its  existing placement capacity  under ASX  Listing  Rules 7.1

Funds raised will be allocated to acceleration of Dubber’s global growth, continued product development, pursuit of strategic M&A opportunities and general working capital.

Settlement  of the Placement  is  expected  to occur on Thursday, 23 October2020,  with allotment  of  the new shares scheduled for the following day.

Dubber is unlocking the potential of voice data from any call or conversation. Dubber is the world’s most scalable Unified Call Recording service and Voice Intelligence Cloud adopted as core network infrastructure by multiple global leading telecommunications carriers in North America, Europe and Asia Pacific.

Dubber allows service providers to offer call recording for compliance, business intelligence, sentiment analysis, AI and more on any phone. Dubber is a disruptive innovator in the multi-billion dollar call recording industry, its Software as a Service offering removes the need for on premise hardware, applications or costly and limited storage.


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