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POINTERRA LIMITED — Capital/Financing Update 2018
Nov 25, 2018
64255_rns_2018-11-25_8c325cb3-55f0-475e-bb5b-08e9723107e9.pdf
Capital/Financing Update
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Pointerra Limited
ASX Announcement
26 November 2018
Over-Subscribed Placement to Accelerate Sales Growth
Pointerra Limited (ASX: 3DP) (“Pointerra”; “Company”) is pleased to announce that it has received firm commitments for the placement of 27,380,953 shares in the Company at a price of $0.042, raising $1.15 million before costs. The shares were placed to institutional and sophisticated investors that qualify under section 708 of the Corporations Act. The capital raising, which was managed by Pointerra’s corporate advisor (Canary Capital), was oversubscribed and attracted interest from both existing shareholders and new investors. The placement represents less than 5% of the Company’s fully diluted capital structure.
The entire issue of 27,380,953 shares will be made utilising the Company’s available placement capacity under ASX Listing Rule 7.1.
Recent material growth of the international and regional sales pipeline in the infrastructure utilities; surveying and mapping; and AEC (architecture, engineering & construction) sectors has encouraged the Board to pursue an accelerated sales execution strategy, which will require additional human resources. Accordingly, the purpose of the placement is to accelerate the recruitment of sales resources in the US and Australia as well as for general working capital purposes.
Over the past 3 months the Company has announced 6 discrete enterprise customer DaaS (Data as a Service) agreements, all of which are expected to grow in value as the customers expand their use of Pointerra’s world-first cloud platform, which allows users to see, use and share their 3D data easily.
The ACV (annual contract value) of these new enterprise DaaS agreements and existing survey, mapping and AEC sector customers combined with additional DaaS proposals pending award is expected to take the Company close to cashflow breakeven on an ACV basis. As previously announced, the Company intends to commence reporting ACV in the forthcoming Q2 FY19 quarterly, which is due out in January 2019.
ENDS
For more information, please contact:
Ian Olson Paul Hart Managing Director, Pointerra Canary Capital +61 417 998 328 +61 421 051 474 [email protected] [email protected]
About Pointerra : Pointerra is an Australian company focussed on the commercialisation of its unique 3D geospatial data technology. Pointerra’s technology has solved an entrenched problem in the digital asset management sector and allows very large 3D datasets to be used by users without the need for high performance computing. 3D data is processed and stored in the cloud for instant, on demand user access: anytime, anywhere, on any device – providing actionable 3D information to power digital asset management solutions. Pointerra’s vision is to create a global marketplace for 3D data, saving users time and money and creating a 3D data access revolution. Pointerra: 3D Data Solved http://www.pointerra.com
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Pointerra Limited | ABN 39 078 388 155 Registered Office: Level 4, 216 St Georges Terrace, Perth WA 6000 T +61 8 6268 2622 | F +61 8 6268 2699 | E: [email protected]