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POINTERRA LIMITED — Capital/Financing Update 2019
Nov 4, 2019
64255_rns_2019-11-04_2d71e1b3-5ddc-470d-a8a9-f4dce23c7c7a.pdf
Capital/Financing Update
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Pointerra Limited
ASX Announcement
5 November 2019
Strong Demand for Placement to Fund Further Sales Growth
Pointerra Limited (ASX: 3DP) (“Pointerra”; “Company”) is pleased to announce that it has received firm commitments for the placement of 50 million shares in the Company at a price of $0.05, to raise $2.5 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) attracted strong interest from both existing shareholders and new investors, with the 50 million share placement representing less than 9% of the Company’s fully diluted capital structure.
The offer price of $0.05 represented a 10.7% discount to the 15 day VWAP of $0.056, a 12.3% discount to the last closing price of $0.057 and the offer comprised 40 million shares made under the Company’s ASX Listing Rule 7.1A issue capacity and 10 million shares made under the Listing Rule 7.1 issue capacity.
Growth in Pointerra’s customers (measured by annual contract value or ACV) during calendar 2019, coupled with the size of the underlying sales pipeline in Australia and the US has encouraged the Board to pursue an accelerated sales and product development execution strategy, which will require additional human resources.
Accordingly, the purpose of the placement is to accelerate the recruitment of further sales and technical resources in the US and Australia as well as for general working capital purposes.
ENDS
For more information, please contact:
| Ian Olson Managing Director, Pointerra +61 417 998 328 [email protected] |
Paul Hart Canary Capital +61 421 051 474 [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]