Cap raising, the usual reasons plus CV 19 :Audinate Group...

Cap raising, the usual reasons plus CV 19 :
Audinate Group Limited (“Audinate” or “the Company”) is raising:
• A$28 million via a fully underwritten Institutional Placement to professional and sophisticated
investors at an issue price of A$5.15 per share (“Placement”); and
• up to A$12 million in a Share Purchase Plan to all existing eligible shareholders (“SPP”)(1)
Audinate intends to utilise the proceeds of the Equity Raising to:
• increase investment in engineering, R&D capabilities and business infrastructure to extend
its market-leading position in the audio networking space
• strengthen the Company’s balance sheet position in the uncertain COVID-19 period
• accelerate investment in additional video and software products
• provide flexibility to pursue potential M&A opportunities that complement the Company's
medium-term objectives