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Dorothy Neufeld
Dorothy is a tech writer with INN. She has previously published in Investopedia, VancouverValueInvesting, Discorder and Dine Magazine. She is passionate about the fundamentals of investing with a focus on women in tech.
Previously at RBC Dominion Securities, she maintained and traded on a number of asset pools worth approximately $100 million. She has been avidly reading financial literature for over 15 years, including the Financial Times, Barron's and the Economist, in addition to Ben Graham, Jason Zweig and Joel Greenblatt.
Dorothy has a BA from the University of British Columbia. She completed the Canadian Securities Course in 2017.
Animoca Brands to Acquire nWay For AU$11.4 Million
Animoca Brands (ASX:AB1), esports and gaming company announced that it will acquire nWay, a San Francisco-based gaming company for AU$11.4 million. nWay publishes Power Ranger Legacy Wars, with license rights from Lionsgate and Hasbro. The company reported unaudited revenues for the first eight months of 2019 reaching AU$10.2 million.
As quoted in the press release:
Highlights:
Animoca Brands to acquire nWay, Inc. (“nWay”) for US$7.69 million (approx. A$11.4 million) of which US$1.94 million (approx. A$2.9 million) is in cash and US$5.75 million (approx. A$8.5 million) in shares
Share consideration will be based on a price per share of the higher of A$0.18 or the 30-day VWAP as of the effective date
Cash consideration includes US$250,000 (approx. A$369,000) to the Sellers and a US$1.69 million (approx. A$2.5 million) cash investment into nWay for operating purposes
nWay is a game developer and publisher of high-quality AAA games on console, PC, and mobile platforms
nWay revenue (unaudited) in the first 8 months of 2019 was US$6.98 million (approx. A$10.2 million) with EBITDA loss of US$1.3m (approx. A$1.88m)
nWay, based in San Francisco, has published the Power Rangers: Legacy Wars mobile game, with over 50 million downloads worldwide.
BuildingIQ Announces AU$1.06 Million Private Placement
BuildingIQ (ASX:BIQ), a clean energy technology company announced that it has completed a AU$1.06 million private placement. Funds raised are slated to be used across its Greenfield projects.
As quoted in the press release:
The significant opportunities from Australia’s construction boom, which experts are predicting will continue for a number of years, is underpinning BuildingIQ’s growth. This growth is positive for the Company however, it requires funding.
The private placement follows BuildingIS’s indications to the market (ASX Announcement 27 August 2019: FY2019 Interim Results Presentation) of its intention to raise further capital this quarter specifically to support the financing needs of our Greenfield business growth.
Amid a construction boom, BuildingIQ plans to use funds for its greenfield projects as it continues to reposition itself into new markets.
MoneyMe Completes AU$45 Million IPO, Loan Originations Up
MoneyMe (ASX:MME), a fintech firm that services alternative loans completed its first day of trading on the Australian Stock Exchange in a AU$45 million initial public offering (IPO). The company’s gross loans originations were up 60 percent compared to the same time last year. in its first quarter of 2020 financial results.
As quoted in the press release:
Technology driven consumer credit company, MoneyMe, will commence the trading of its shares on a normal settlement basis on the ASX at 11.00am today following the completion of its successful A$45.0 million Initial Public Offering (IPO).
The strong demand in the Company’s IPO was evident, with applications for MoneyMe’s shares significantly exceeding the target raising of A$45.0 million resulting in substantial scaling back of applications. The IPO was strongly supported by institutions and retail investors. The Company’s successful listing on the ASX represents a significant milestone for the Company and provides a solid platform for future growth.
The consumer credit firm launched on the ASX on Wednesday (December 11) after reporting a 60 percent increase in loan originations.
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Table of Contents
- Australia Mining Trends 2021: Green Energy Transition Gains Attention
- Australia Mining Outlook 2022: Energy Shift to Bring Opportunities for Investors
- 5 Top Australian Stocks in Mining
A Sneak Peek At What The Experts Are Saying
“Australia has the opportunity to be a green energy powerhouse if it has the political will and foresight, endowed with vast reserves of lithium, nickel, copper, rare earths, uranium and plenty of wind and sun to drive renewable energy production.”
— David Franklyn, Argonaut
“With the exception of 2020, foreign investment into Australia has been steadily increasing and we expect this to continue as demand rises for minerals critical to the energy transition, and government policy supports the building of a safe and productive mining industry.”
— Paul Mitchell, EY
“Australia’s national export income and stock market will likely be jolted higher in Q2 and for the rest of the year, with the luckily commodity-rich country tipped to come out on top while the world braces for the big three Rs: record inflation, rising interest rates and a possible recession.”
— Jessica Amir, Saxo Markets
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Nitro Software IPO Raises Over US$110 Million
Nitro Software (ASX:NTO), PDF and esignature software firm held its initial public offering (IPO), raising AU$110.2 million. Shares had a price of AU$1.72, opening at AU$1.65 and closing at AU$1.52 in its first day of trading.
As quoted in the press release:
Nitro Chairman, Kurt Johnson said “The completion of the IPO is an important milestone for Nitro, supporting a growth strategy that leverages the continued success of our PDF productivity and eSignature solutions. As we continue to expand our cloud-based platform, we are excited to benefit from global trends driving the adoption of the document productivity offerings like those core to our business. We are very pleased with the outcome of the IPO and are delighted to welcome new investors to join us on the next exciting phase of Nitro’s successful journey.”
Sam Chandler, Nitro’s Co-Founder and CEO said, “Having founded the Nitro business in Melbourne a decade and a half ago, I am thrilled that we are listing Nitro in the Australian market today.
In its first day of trading the PDF software firm shares dropped from AU$1.65 to AU$1.52. The firm will trade under the ticker ‘NTO’.
Netlinks Boosts Share Placement to AU$4 million
Netlinks (ASX:NET), cloud security company announced that it has raised its share placement to AU$4 million. The company is issuing ordinary shares at a price of AU$0.13 for the development of an IoT lab in Tokyo and its joint venture with iSoftStone in China.
As quoted in the press release:
Funds raised under the Placement will provide working capital for:
a. the Company’s joint venture with iSoftStone in China (with sales to begin by the joint venture company ‘iLinkAll’ in late December 2019); and
b. the establishment and funding of the Company’s IoT Lab in Tokyo
Lead Manager
EverBlue Capital Pty Ltd (‘EverBlu’) was lead manager to the Placement. EverBlu will be paid a 6% cash fee on the funds raised by the Company under the Placement and will also be issued 1 fully paid ordinary share in the Company (‘Share’) for every $2 raised under the Placement and 1 option (each having a 3-year term, exercise price at 100% premium to the Share price on date of issue of such options and entitling the holder to receive one Share on exercise of each Option).
The cloud security company’s shares have skyrocketed over 415 percent year-to-date, from AU$0.03 to AU$0.16 as of Tuesday (December 10).
Afterpay Touch to Commence Share Purchase Program
Afterpay Touch (ASX:APT), a fintech firm announced an update on its share purchase program (SPP). The company had originally announced the the AU$30 million program in June, but had deferred the SPP following the request of the ASX to appoint an auditor to the transaction. On November 25, the company received a favourable report from an auditor and will now commence the SPP. Shares will be issued at AU$23, at a limit of AU$30 million.
As quoted in the press release:
In accordance with the Company’s previous commitments regarding the deferral, and in order to preserve the original record date and issue price for the SPP, the terms and conditions of the SPP (including the maximum size offer) remain unchanged form those previously announced to shareholders.
Shares issued under the SPP will be issued at the lower of $23.00, being the price of the institutional placement that was undertaken and announced on 12 June 2019, and the 5-day VWAP of Afterpay shares up to the SPP closing date.
With over 149 percent gains year-to-date, the fintech firm is issuing a share purchase plan at AU$23 a share, capping at AU$23 million.
