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5.5¢ spirit technology solutions ltd

Spirit Technology Solutions (ASX:ST1) poised for capital raise and material acquisition, page-4

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MarkHGO

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30/03/21

20:19

Post #: 52153879
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Originally posted by AffluenceStocks: ↑

From the AFR:

ASX-listed Spirit Technology Solutions is readying a $24 million capital raise to buy telecommunications equipment outfit Nexgen.ASX-listed Spirit Technology is getting ready to tap the market for fresh capital to fund an acquisition. The company had Shaw and Partners in its corner on Monday morning helping it finalise terms on the capital raising, which would be used to help pay for the business.Nexgen includes two businesses, one called Nexgen and the other name Business Telecom, and sells a range of data, security and voice products, like phone systems and conferencing units.The company was forecast to generate between $7.2 million and $7.6 million earnings before interest, tax, depreciation and amortisation in fiscal 2021, and the purchase price implied a 6.5 times earnings multiple.It is understood the purchase would double Spirit’s customer base to more than 10,500 small and medium enterprises.Spirit would fund the deals using a mix of 70 per cent cash – thanks to capital raising and debt facility from CBA – and 30 per cent scrip, which would come with a vendor performance earn-out.Spirit’s shares went into a trading halt on Monday morning.

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Can anyone take a stab at the likely strike price & scaleback, if any?

ST1 Price at posting: 35.0¢ Sentiment: Buy Disclosure: Held
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