details are in the afr this morning:ASX-listed family photo...

details are in the afr this morning:

ASX-listed family photo sharing platform Tinybeans Group is raising money as it looks to acquire parenting website Red Tricycle.

Tinybeans co-founders Sarah-JaneKurtini, Eddie Geller and Stephen O'Young. Michele Mossop

The $82million Tinybeans was cap in hand in front of investors on Wednesday morning,looking to raise $12 million via a placement and up to $3 million from a sharepurchase plan.

Theplacement and share purchase plan was priced at $2 a share, according to termssent to funds. This represented a 6.1 per cent discount to Tinybeans'$2.13 last close.

BellPotter was sole lead manager on the deal and bids were due by midday on Thursday.

Theequity raised would used to fund Tinybeans' purchase of Red Tricycle for $9.35million cash and 825,000 consideration shares at $2 a share.Red Tricycle is a parentingwebsite that reaches more than 2 million unique parents each month, funds weretold. The business generated $5.3 million revenue and EBITDA of $778,000 in the2019 calendar year.

TheASX-listed Tinybeans is a mobile and web based platform that allows parents toshare photos of their children with their extended family in a secure manner.

Thecompany has more than 1.4 million monthly active users and generated $4.6million in revenue in the 2019 calendar year.