News: NTO Nitro Software Says Entered Binding Agreement To Buy Connective NV

Nov 10 (Reuters) - Nitro Software Ltd (NTO) :

• ENTERED A BINDING AGREEMENT TO BUY CONNECTIVE NV FOR AN ENTERPRISE VALUE OF EUR 70 MILLION
• ACQUISITION WILL BE FUNDED BY A A$140 MILLION FULLY UNDERWRITTEN CAPITAL RAISING
• REAFFIRMS ITS UPDATED FY2021 GUIDANCE
• CAPITAL RAISING COMPRISING A$80 MILLION INSTITUTIONAL PLACEMENT AND A$60 MILLION ACCELERATED NON-RENOUNCEABLE ENTITLEMENT OFFER
• EQUITY RAISING WILL BE CONDUCTED AT A$3.43 PER NEW SHARE
• EQUITY RAISING WILL BE CONDUCTED AT A$3.43 PER NEW SHARE
• CONNECTIVE IS FORECAST TO ACHIEVE ARR OF US$6.1 MILLION AS AT 31 DEC AND FY2021 REVENUE OF US$7.1 MILLION