8th December 2016
Dubber Successfully Completes $6.3 Million Capital Raising
Last month at the BroadSoft “Connections” event – an annual global service provider conference held in
- Funds expansion into North America to address quantified customer demand
- Dubber to expand existing go-to-market channel activities and open USA office in 1H
2017- Establish dedicated team of on-site, tier one service provider account executives
- Accelerate uptake of “Dubber Playback” product
- Thorney Investment Group to become a substantial shareholder on completion
Dubber Corporation Limited (ASX: DUB) is pleased to announce that it has successfully completed a $6.345 million capital raising. The capital raising will result in the placement of 15,107,865 new fully paid ordinary shares to institutional and sophisticated investors at an issue price of $0.42 per new share. The new placement shares are likely to be issued on Monday, 12 December 2016.
The funds raised by Dubber will be utilised to support the company’s immediate expansion in North America, establish a team of dedicated on-site tier-one service provider account executives, to accelerate the uptake of Dubber’s revolutionary “Dubber Playback” product and for other general corporate purposes.
Similar to a video-on-demand service, Dubber Playback allows consumers to save, pause, rewind and fast forward audio files of their phone
calls.
Dubber Playback provides service providers globally with the opportunity for an entirely new revenue stream and value added service to offer their customers. The service can be billed to users on a monthly basis or can be offered on a per-call-saved basis.
In 1H 2017, the company will also establish a team of dedicated on-site account executives into tier-one service providers such as Telenor Sverige AB (Sweden) with the aims of accelerating the adoption of its services across an entire network customer base. These account executives will be assigned to client opportunities initially in North America and Europe.
San Antonio, Texas – Dubber introduced “Dubber Playback” - a revolution in the way people and service
providers can manage and access their phone calls. Just as video on demand services like Netflix and
Amazon Instant Video have remade the television entertainment landscape, Dubber Playback aims to
transform voice telecommunications.
For the first time, service providers everywhere are able to securely capture all calls for their users and
offer Playback as a value-added service to their customers – from an individual mobile subscriber through
to large business accounts with tens of thousands of users.
Dubber will also establish a permanent office in the United States in 1H 2017 to support expected demand from North American service provider customers.
[BCOLOR=rgb(100.000000%, 100.000000%, 100.000000%)]Steve McGovern, CEO Dubber, commented: [/BCOLOR]
“Based on our recent customer engagements and through participation at industry events like BroadSoft
Connections in San Antonio, Texas, it is clear that there is significant demand for Dubber’s services,
particularly in North America. We believe the industry understands our native cloud philosophy and that
Dubber’s Platform as a Service meets immediate deployment needs with carriers and their corporate
clients.
As with our engagement with Telenor in Sweden it is apparent that similar large scale opportunities exist
in the United States.
We believe that capitalising on these immediate opportunities calls for the Company to be fully resourced
to support this expansion. We are also pleased that our cornerstone shareholders share in this view and
are supporting our ambitions which include delivering innovative solutions in a market dominated by
traditional technologies.”
After the completion of the placement, Thorney Investment Group will become a substantial
shareholder.
Alex Waislitz, Executive Chairman, Thorney Investment Group said:
"We are very excited by the prospects for the Dubber call recording solution and have been impressed by how seamlessly the technology has integrated into the networks of telecommunications providers both internationally and domestically. This capital raising provides the ability for Dubber to expand and execute its business plan to include the USA where demand appears very encouraging"
As part of the placement a company associated with
Chairman, Peter Pawlowitsch has subscribed for approximately $200,000 of shares, subject to shareholder approval.
Aesir Capital Pty Ltd acted as Lead Manager for the placement.
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