Unified Capital Partners (UCPS) would like to congratulate Zip...

Unified Capital Partners (UCPS) would like to congratulate Zip Co (ASX:ZIP) on the successful $217m equity placement completed last week. UCPS was honoured to have acted as Joint Lead Manager to the placement, which received strong support from both new and existing institutional investors, raising $217 million at a 2.8% discount to last close. ZIP traded +11% higher following the capital raise and +14% higher vs the raise price of $1.56.Funds from the Placement will be used to repay Zip’s existing corporate debt facility and associated exit fee.Zip also released its Q4 FY24 results announcing a fourth consecutive quarter of positive Cash EBTDA, demonstrating strong performance across the two core markets, achieving TTV growth of 42.6%, revenue growth of 46.8%. Lastly, Zip has now formally entered the S&P/ASX200 index as of Monday 22 July, which we believe is a well-deserved promotion and we now turn our minds to Zip’s next phase of growth and what we see as its pathway to the ASX100.