Ann: FBR Executes Binding US Agreement with CRH Ventures Americas, page-180

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Giobria

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18/01/24

21:07

Post #: 71952573
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Originally posted by seanl: ↑

Yep, i forgot how incredibly smart and wise you are. Well done, you are an amazing time traveller!

anyway, here is the AFR article:

"Bell Potter is busy prepping an equity raise for Perth-based bricklaying robot maker FBR (née Fastbrick), Street Talk understands.Fastbrick Robotics’ Hadrian X robot bricklaying machine. The activity will come a day after the $107 million market cap company announced a joint venture with NYSE-listed CRH Ventures Americas – one of the largest concrete block suppliers in the US.It’s understood the final terms of the raise are still being determined. Meetings with institutional investors and a bookbuild are slated for Friday.FBR’s claim to fame has been its dynamically stabilised robots which, it reckons, can build brick structures faster, cheaper and more accurate than human tradies.Its blue-chip register includes Washington H Soul Pattinson-backed Brickworks, European investment manager M&G and Fidelity International, sitting alongside FBR chief technical officer and inventor Mark Pivac.Brickworks has flirted with FBR over the years, tipping some loose change into FBR’s IPO in 2015 and signing a since-disbanded joint venture for residential construction in 2019.The joint venture will see the CRH subsidiary purchase 20 of FBR’s Hadrian X robots at $US2 million a pop. Each unit is expected to generate $US32 million per annum in revenue at 60 per cent utilisation. Developers pay an upfront fee and cough up for each brick laid.The deal will also see CRH establish $US40 million ($61 million) rolling loan facility to fund FBR’s US expansion plans.FBR’s shares have traded down 28 per cent over the last year. The company went into a trading halt on Thursday."

20 x $32million per year! is that correct?

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"20 x $32million per year! is that correct?"

Hi Sean

I've been thru the ann several times - where did the $32m figure come from? I can't find it.
Cheers
Thanks in advance

FBR Price at posting: 2.7¢ Sentiment: Buy Disclosure: Held
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