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ADSLOT LTD. — Capital/Financing Update 2024
Jun 16, 2024
64306_rns_2024-06-16_1551412e-5ac1-4ee2-ae5d-5d1219aef833.pdf
Capital/Financing Update
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ASX Announcement 17 June 2024
ASX: ADS Level 2, 419 Collins Street Melbourne Vic 3000 Australia Tel: +61 (0)3 8695 9100
Adslot Announces $2.4m Capital Raise
Adslot Ltd (ASX: ADS) (“ Adslot ” or “the Company ”) is pleased to announce a capital raise in the form of a partially underwritten 3:4 accelerated pro rata non-renounceable entitlement offer at a price of $0.001 per share, to raise up to$2.4 million (“ Entitlement Offer ”).
The Entitlement Offer comprises an institutional component ( Institutional Entitlement Offer ) and an offer to eligible shareholders (as defined below) to participate on similar terms under a retail component ( Retail Entitlement Offer ).
The proceeds from the Entitlement Offer will be used for working capital, to strengthen the Company’s balance sheet and to continue investment in key commercial projects.
Entitlement Offer details
The Entitlement Offer consists of a partially underwritten 3-for-4 accelerated pro rata non-renounceable offer of approximately 2,400,000,000 ordinary shares at the Offer Price, to raise approximately $2.4 million (before costs). The Entitlement Offer will be offered to those Adslot shareholders who have a registered address in Australia or New Zealand and who are on Adslot’s share register on the record date, anticipated to be on or about Wednesday 19 June 2024. The Entitlement Offer will be undertaken pursuant to an exemption from disclosure under section 708AA of the Corporations Act.
The Retail Entitlement Offer will be partially underwritten by current directors Adrian Giles, Sarah Morgan and Andrew Dyer (through their related shareholding entities) who have agreed to take up their entitlements under the Entitlement Offer and underwrite to a total of approximately $332,000.
As the Entitlement Offer will be non-renounceable, entitlements will not be tradeable.
Indicative Timetable
| Entitlement Offer announced | 17 June 2024 |
|---|---|
| Entitlement Offer Record Date | 7:00pm, 19 June 2024 |
| Offer Document dispatched to shareholders, Retail Entitlement Offer opens | 24 June 2024 |
| New Shares issued under the Institutional Entitlement Offer | 26 June 2024 |
| Retail Entitlement Offer closes | 5:00pm, 8 July 2024 |
| Issue of shares under Retail Entitlement Offer | 15 July 2024 |
NEW YORK SYDNEY LONDON MELBOURNE MUNICH SHANGHAI
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Note: The timetable above is indicative only and may be subject to change without notice.
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For further enquiries, please contact:
Ben Dixon Chief Executive Officer Adslot Ltd [email protected]
About Adslot
Adslot’s mission is to automate the trading of forward guaranteed display advertising, referred to as automated guaranteed. Our leading technology is a purpose-built, global media trading platform. Adslot benefits a global community of media buyers and sellers, including media agencies, publishers and advertisers, by providing trading efficiencies and effectiveness made possible only via technology, and by doing so the basis on which the $80B online display advertising industry will realise its full growth potential.
Adslot is a global organisation with operations in North America, Europe and Asia Pacific and is headquartered in Australia.
NEW YORK SYDNEY LONDON MELBOURNE MUNICH SHANGHAI