Spenda Limited (ASX: SPX) has achieved a significant milestone by entering a binding term sheet for a 10-year service agreement with Capricorn Society Limited. Under this agreement, Spenda will provide essential software and e-commerce payments infrastructure to Capricorn, subject to completing the Digital Services Delivery (DSD) initiative's Foundations Stage, expected in late 2023. The financial terms include Spenda receiving AU$443k upon the final phase's completion and AU$1.3m in initial development fees for the commercial launch 2024.
Spenda will also secure a minimum of AU$100k per month in recurring revenue from software licensing fees over the 10 years. Additionally, Capricorn has expressed interest in subscribing for up to 412 million shares in Spenda, representing nearly 9.97% of Spenda's share capital post-investment. This strategic partnership positions Spenda to capitalize on Capricorn's vast network, potentially leading to significant growth in e-commerce volumes and market reach.
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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.
