Good call greygrass But “trainwreck” Did you know many companies...

Good call greygrass

But “trainwreck”

Did you know many companies launch with the expectation once they are public they will be able to expand via capital raises.

…ie it’s a normal part of growth strategy and not neccessarily (with good companies) anything to be frightened of.

Is 5GG a good ‘un?
Time will tell but I note this raise placed shares at 72c.
What did the last raise to launch the company price shares at?

Was it half that? Around 36c
… oh no…
I just checked
The last raise to launch the company was priced at 25c a share!
..And now 72c is eagerly paid six months later?

Despite your fear, Pentanet must be inspiring confidence in some people ….. and ones with deep pockets too.

cheers

https://thewest.com.au/business/sta...ming-development-opportunities-ng-b881901776z
Pentanet taps market for $20m to grow grid, gaming development opportunities

Sean SmithThe West Australian
Wed, 16 June 2021 9:06AM
Sean Smith


Pentanet chairman David Buckingham and managing director Stephen Cornish. Credit: Kelsey Reid/The West Australian

WA internet company Pentanet is raising $20 million in fresh equity less than six months after listing on the Australian Securities Exchange.
The fledgling provider went into a trading halt today as it bedded down the placement to professional and institutional investors at 72¢ a share, a 5 per cent discount to yesterday’s closing price of 76¢.

Pentanet, which has built Perth’s biggest 5G fixed-wireless network since being founded just four years ago, said the proceeds of the raising would be applied to a combination of uses, including working capital, software and gaming development opportunities and the expansion of its grid.
Pentanet raised $22.5m at 25¢ in an initial public offer in December, with the shares racing past 70¢ on debut the following month.

The company was founded by chief executive and major shareholder Stephen Cornish in 2017 and initially funded from the proceeds of the sale of his Woodvale home.
A keen gamer, he had become frustrated by poor internet speeds and set out to find a solution.
He found it in high-bandwidth fixed-wireless technology, selling his house to raise the cash to build the first of a network of more than 40 telecommunications towers covering about half of Perth.

Over the following three years, Pentanet raised a further $11m from private backers including veteran director Dalton Gooding, one of its five board members.