PAY
05/10/2015 09:10
PLACE
NOT PRICE SENSITIVE
REL: 0910 HRS Pushpay Holdings Limited
PLACE: PAY: Completion of Pushpay's private placement
Completion of Pushpay's private placement
Auckland, New Zealand | Redmond, Washington, USA - 5 October 2015
Pushpay Holdings Limited (NZSX:PAY) ('Pushpay') announces the successful
completion of its private placement which raised $18.8 million.
Pushpay has today issued 3,855,677 new ordinary shares to placement
participants and those shares will be quoted today. Pushpay welcomes a number
of new shareholders to the register today including Pie Funds Management, a
top performing boutique fund manager.
A number of existing shareholders, including interests associated with
Pushpay Directors Bruce Gordon, Graham Shaw, Christopher Huljich and
Alternate Director Peter Huljich, have been allotted new shares in the
placement today. The interests associated with these directors have all
agreed to a 24 month embargo in respect of the new shares issued to them
under the private placement. A number of other placement participants have
also agreed to embargos of between around six months and 24 months.
Chris Heaslip, Pushpay's Chief Executive Officer said, "The completion of the
private placement will result in receipt of funds totalling $18.8 million.
The success of the placement provides 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.
"The further support Pushpay has received in this placement of $18.8 million,
just months following the $13.8 million raised through our Entitlement Offer
in June, shows that the market opportunity and our growth strategy are well
understood by the market. We thank our current shareholders for their
continued support and also welcome our new shareholders."
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).
Pushpay's Co-founders Chris Heaslip and Eliot Crowther were awarded the 2015
EY Young Entrepreneur Of The Year title and Pushpay is ranked 1st on the
TIN100 ASB Ten Hot Emerging Companies List.
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:00271259 For:PAY Type:PLACE Time:2015-10-05 09:10:54
