Activeport Rights Issue offer is now available.
The clock is ticking on the Activeport Rights Issue with firms bids due by Friday 1 November.
SYDNEY, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Activeport Group (ASX: ATV) has announced a significant financial move by launching a rights issue aimed at raising $5.3 million to bolster their software and Software-as-a-Service (SaaS) business ventures.
In an attractive offer, shares are being made available at a 50% discount, providing an enticing opportunity for investors. As part of this initiative, shareholders will receive one free option for every three shares they purchase. The clock is ticking with firms bids due by Friday 1 November.
Highlights:
- 3 for 4 Renounceable Rights Issue to raise up to $5.3 million
- Attractively priced at 2 cents per share
- Discount of 50% to the September 30-day VWAP
- With every 3 New Shares, shareholders receive 1 free attaching New Option
- New Options will have Exercise Price of 10 cents, term of 3 years
- Shareholders can trade their rights and apply for additional shares and options
- Rights to start trading from December 2024
The funds raised from the rights issue will be strategically utilised to strengthen Activeport's balance sheet and provide working capital for accelerating growth. This capital injection will support hiring additional staff to enhance operations, expanding the SaaS portfolio and broadening the company's global market presence.
With a high gross margin exceeding 90% on its software products, Activeport has the potential to deliver significant shareholder returns, as its recurring revenue base grows. The company targets a deep global market, focusing on telecommunications and data centres, which delivers significant revenue per customer. And with cutting-edge GPU orchestration software optimised for the technically demanding cloud gaming industry, Activeport is perfectly positioned to tackle the emerging artificial intelligence market using the same advanced software.
“Activeport has achieved profitability and established itself as a leading vendor of orchestration software for networks, data centres, cloud gaming, and artificial intelligence. We have significant projects underway in Asia, India, and the Middle East and an extensive pipeline of new opportunities in front of us.” Chairman Peter Christie stated “This fundraising will provide a solid foundation on which we can grow our recurring revenue base to achieve consistent, positive free cash flow. I look forward to continued shareholder support as we advance Activeport to the next level and deliver value for shareholders.”
In addition, this week Activeport announced a strategic partnership with Australia's FibreconX to orchestrate services across its new national dark fibre network. By integrating FibreconX with Activeport’s automation software, customers can create self-service networks that connect customers in Australia’s major commercial centres to all the major national data centres. This partnership empowers enterprise customers to build new networks that redefine speed, cost efficiency, flexibility, and connectivity in this era of AI.
For more information on the Rights Issue, check the recent Activeport ASX announcements on the website- Link here. Activeport also held a webinar 16 October 2024 which is now available to view on YouTube.
About Activeport
Headquartered in Australia, Activeport develops automation software and customer self-service portals for global telecommunication providers. The Activeport product suite enables network automation, minimising operational costs, accelerating ‘time to revenue; and improving customer experience.
For more information: https://www.activeport.com.au
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cdd6f0f8-eff6-4248-915d-5096ff5dbe76
Email: lisa.jones@activeport.com.au
-
The clock is ticking on Activeport's $5.3 Million Rights IssueActiveport Rights Issue offer is now available. The clock is ticking on the Activeport Rights Issue with firms bids due by Friday 1 November. SYD2024-10-23
-
Nyxoah to Release Third Quarter 2024 Financial Results on November 6, 2024Mont-Saint-Guibert, Belgium – October 22, 2024, 10:30pm CET / 4:30pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company2024-10-23
-
Amlan International Welcomes Pinyo Kantasakorn as Regional Sales Manager – Asia PacificPinyo Kantasakorn Joins Amlan International Amlan International Welcomes Pinyo Kantasakorn as Regional Sales Manager – Asia Pacific CHICAGO, Oct.2024-10-23
-
Tealium recognized in Snowflake’s 2025 Modern Marketing Data Stack ReportTealium’s CDP integration with Snowflake enables joint customers to leverage real-time data for more effective and relevant customer experience San2024-10-23
-
ManageEngine卓豪丨网络管理方法及软件选择指南在现代企业中,网络管理是保障信息技术基础设施正常运作的重要环节。随着网络规模的不断扩大和复杂性增加,选择合适的网络管理方法和软件变得尤为重要。网络管理不仅2024-10-23