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POINTERRA LIMITED — Capital/Financing Update 2024
May 29, 2024
64255_rns_2024-05-29_08f7893c-b230-42e4-a0c0-b275a7caf1a0.pdf
Capital/Financing Update
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ASX Announcement
30 May 2024
Oversubscribed Placement to raise $2 million
Highlights
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Oversubscribed Placement to institutional, professional, and sophisticated investors raises $2.05 million at an issue price of $0.033 per share
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Placement helps fund strategic initiatives in FY25, including recruitment of enterprise sales professionals to deliver on existing opportunities and shorten the sales cycle
Pointerra Limited (ASX: 3DP, “Pointerra” or “the Company”) is pleased to announce that it has received firm commitments from existing and new institutional, professional and sophisticated investors to subscribe for approximately 62,121,212 new fully paid ordinary shares in the Company ( Shares ) at a price of $0.033 each, to raise $2.05 million before costs ( Placement ).
The Placement secures funding to advance Company’s strategic objectives for FY25 and will be primarily allocated to:
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Recruit enterprise sales professionals, to deliver on qualified opportunities from expanding sales pipeline across all sectors, shrink sales cycles and expand sales reach via growing new channel partnerships globally; and
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For general working capital purposes.
Placement Details
Pointerra has undertaken a non-underwritten single tranche Placement of 62,121,212 new Shares to raise $2.05 million (before costs). New Shares will be issued at price of $0.033 per Share, which represents a:
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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] | W pointerra.com
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ASX Announcement
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13% discount to the last closing price of Pointerra Shares on ASX of $0.038 on 27 May 2024 (being the last day on which Shares traded before trading halt announcement); and
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12% discount to the 5-day volume weighted average price ( VWAP ).
The issue of Shares under the Placement is not subject to Pointerra shareholder approval as the Shares will be issued within the Company’s existing placement capacity under ASX Listing Rule 7.1A.
Lynx Advisors Pty Ltd ( Lynx ) has acted as Lead Manager to the Placement. Lynx will receive capital raising fees of 6% on placement proceeds above $1 million as remuneration for services as lead manager.
The Placement was cornerstoned ($1.45 million) by three high quality new and existing, domestic and international institutional investors, including a US based institutional investor with a background in global technology, and who was previously part of the management team of a large global venture capital fund.
Settlement of funds under the Placement is proposed for Wednesday 5 June 2024, with the issue of shares on Friday 7 June 2024. These dates are subject to change.
This announcement has been approved by the Board.
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