PAY
30/09/2015 09:13
PLACE
PRICE SENSITIVE
REL: 0913 HRS Pushpay Holdings Limited
PLACE: PAY: Pushpay raises $18.7m in a private placement
Pushpay raises $18.7m in a private placement
Auckland, New Zealand | Redmond, Washington, USA - 30 September 2015
Pushpay Holdings Limited (NZSX:PAY) ('Pushpay') previously advised
shareholders of its intention to undertake a private placement by November
2015. Pushpay is now pleased to announce that it has received and accepted
commitments for a private placement of $18.7 million of new ordinary shares
at $4.88 per share.
A number of existing shareholders, including interests associated with
Pushpay Directors Bruce Gordon, Graham Shaw, Christopher Huljich and
Alternate Director Peter Huljich, have subscribed for new shares in the
placement and have all agreed to a 24 month embargo. In addition, Pushpay
looks forward to welcoming a number of new shareholders to the register next
week including Pie Funds Management, a top performing boutique fund manager.
Pie Funds Management Chief Executive Officer and Chief Investment Officer
Mike Taylor says, "The opportunity for Pushpay is enormous and it's not often
you come across a company with this kind of potential that can rapidly scale
its business model. We're looking forward to seeing what one of the fastest
growing SaaS companies in the world can achieve in the next 3-5 years."
Pushpay will today send placement notifications to the investors specifying
the number of new shares that they are required to subscribe for, and they
will be required to pay for their shares by 5:00 pm on 2 October 2015. The
new shares from the placement, subject to receipt of payment, are expected to
be issued by Pushpay and quoted on the NZX Main Board on 5 October 2015.
Pushpay's Chief Executive, Chris Heaslip said, "The success of the placement
will provide Pushpay with the funding to further develop our product offering
and as working capital to accelerate growth in international markets,
focusing on our key target territory - the USA."
Contact
Sarah Elder | Investor Relations | Pushpay Holdings Limited
P: +64 21 637 449 | E: [email protected]
www.pushpay.com
About Pushpay
Pushpay provides mobile commerce tools that facilitate fast, secure and easy
non point of sale payments between consumers and merchants. Pushpay targets
merchants who are looking to offer convenient, personalised and intuitive
payment solutions to their consumers. Pushpay services three target markets:
the faith sector; non-profit organisations and enterprises (both small medium
enterprises and corporate organisations).
To download the Pushpay App, visit the iTunes App Store or Google Play and
search for "Pushpay".
Visit www.pushpay.com to learn more and see an online demonstration of how
Pushpay enables merchants and consumers to "never miss the moment".
ENDS
End CA:00270993 For:PAY Type:PLACE Time:2015-09-30 09:13:54
