SYDNEY: Swift Media Limited is conducting a placement to sophisticated and professional investors to raise $3 million, with Swift’s board having discretion to accept oversubscriptions.
The Placement to eligible sophisticated, professional and institutional investors will be conducted via a bookbuild and the Company confirms it has, prior to the bookbuild, received strong expressions of interest, including from Directors.
The issue price of Shares will be determined via the bookbuild process. Aitken Murray Capital Partners will act as lead manager to the Placement.
Pippa Leary CEO, highlighted, “We very much appreciate the strong indicative support being received for the placement during the book build stage. We would welcome new institutional investors to the share register and appreciate the continued interest from both existing and new shareholders. That we can embark on this latest raise is an encouraging sign that our accelerated growth strategy is resonating with investors. 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.”
Shares issued under the Placement will rank equally with existing fully paid ordinary shares on issue.
In addition to the Placement, Swift Media Limited will be offering eligible existing shareholders the right to participate in a Share Purchase Plan (SPP) to raise up to a further $1million. In addition to the placement, the Company is offering eligible existing shareholders the opportunity to apply under the SPP for up to $30,000 worth of new Shares.
The proceeds of the Placement and SPP will be used for:
- Growth capital in relation to new and recently announced site installations;
- New product and feature development including mobile applications and Swift’s on-demand suite;
- Investing further into the sales organization and capability to support the Mining & Resources and Aged Care market opportunities;
- Customer installation incentives;
- General working capital purposes.
Swift Media is a specialist technology company delivering premium entertainment, communications, and advertising to an audience of 5M+ via 60,000 digital assets nationally across Mining and Resources, Residential Aged Care and Health & Wellbeing environments. We connect and engage communities through entertainment and communications solutions.
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