$32 MILLION CAPITAL RAISING TO FUND CONTINUED ROLLOUT OF US OPERATIONS
Highlights:
- ď‚· Institutional placement of 35,555,556 shares at $0.90 per share to raise $32 million
- ď‚· Placement was significantly oversubscribed and was taken up by existing and new
domestic and international investors- ď‚· The Placement has been made utilising ASX Listing Rules 7.1 and 7.1A placement
capacity- ď‚· The funds raised will primarily be used for the continued rollout of the Yowie product in
the US
The Board of Directors of Yowie Group Ltd (ASX:YOW) (“the Company” or “Yowie”) are pleased to announce that the Company has raised $32 million via a placement of 35,555,555 ordinary shares at $0.90 to domestic and international investors (“Placement”).
The Placement will be made under the Company’s placement capacity in accordance with the ASX Listing Rules 7.1 and 7.1A. The funds raised under the Placement will be used for working capital and, in particular, for the continued rollout of the Yowie product in the US.
Canaccord Genuity was Lead Manager for the Placement with Hartleys Limited, Morgans Financial Limited and EAS Advisors LLC, acting through Merriman Capital, acting as Co-Lead Managers for the Placement. It is anticipated that the Placement will settle on 20 May 2016.
Yowie’s Executive Chairman Wayne Loxton said, “The Board is delighted with the strong level of interest in the placement and continued support from new and existing institutional investors. The achievements of the Company in such a short space of time is a credit to the management team and the opportunities that are ahead to create a successful global branded company are very exciting.”
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