Ovanti Limited Completes $6 Million Capital Raise

Highlights:

• Successful Capital Raise: Ovanti Limited (ASX: OVT) raised $6 million through the placement of 300,000,000 ordinary shares at $0.02 per share, exceeding the initial $5 million target by accepting strategic investor contributions.
• Strategic Fund Allocation: The funds will support the company's US expansion, including team building, legal and compliance costs, marketing efforts, and technology development, along with working capital needs.
• Lead Managers and Fee Structure: Joint lead managers, including Clee Capital, Barclay Pearce, and Sanlam Private Wealth, will receive a 6% fee and 25 million unlisted options, subject to shareholder approval.

Successful Placement and Strategic Investor Inclusion
Ovanti Limited (ASX: OVT) has announced the successful completion of a $6 million capital raise through the placement of 300,000,000 ordinary shares at $0.02 per share. This Placement, which was initially targeted to raise $5 million, garnered overwhelming interest from professional and sophisticated investors. To minimize dilution for existing shareholders, Ovanti chose to accept an additional $1 million only from strategic investors.

Discounted Pricing and Timelines

At the time of writing, the placement price of $0.02 represents a 9.1% discount to Ovanti’s last traded price of $0.022 as of December 5, 2024, and a 21.8% discount to the 15-day volume-weighted average price (VWAP). The newly issued shares are expected to be allocated on or around December 17, 2024.

Purpose of Funds

The capital raised will be directed towards the company’s expansion efforts in the United States, including building its local team, addressing legal, licensing, and compliance expenses, enhancing marketing and merchant acquisition activities, and advancing technology and platform development. Additionally, funds will be allocated for working capital and costs related to the placement.

Lead Managers and Fee Structure

Clee Capital Pty Ltd, Barclay Pearce Capital Management Pty Ltd, and Sanlam Private Wealth Pty Ltd acted as joint lead managers for this placement. They will receive a 6% fee on the funds raised and, subject to shareholder approval, 25 million unlisted options exercisable at $0.04 per option with a three-year expiration period.

This announcement, authorized by Non-Executive Director and Company Secretary Josh Quinn, marks a critical milestone in Ovanti Limited’s growth strategy as it scales its operations and strengthens its market presence.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com