Two-tranche offering planned to finance company's further growth plans
By Devika Patel
Knoxville, Tenn., Nov. 30 - oOh!media Group Ltd. said it will sell 99,248,120 shares at an average price of A$0.202 apiece in a private placement. The company will raise A$20 million.
William Shaw Capital Pty Ltd. will invest A$10.5 million.
The shares will be sold in two tranches. The company has already settled the initial A$12 million tranche at A$0.21 per share and will raise a further A$8 million at A$0.19 per share.
The average price per share represents a 1.5% discount to the 30-day volume weighted average price of A$0.205. The actual prices per share for each tranche are identical to and a 9.52% discount to the Nov. 29 closing share price of A$0.21, respectively.
Proceeds will be used to help the company pursue further growth plans.
The out-of-home media company is based in North Sydney, Australia.
| Issuer: | oOh!media Group Ltd.
|
| Issue: | Shares
|
| Amount: | A$20 million
|
| Shares: | 99,248,120
|
| Price: | A$0.21 (for A$12 million), A$0.19 (for A$8 million)
|
| Warrants: | No
|
| Investor: | William Shaw Capital Pty Ltd. (for A$10.5 million)
|
| Pricing date: | Nov. 30
|
| Stock symbol: | Australia: OOH
|
| Stock price: | A$0.205 at close Nov. 30
|
| Market capitalization: | A$75.94 million
|
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