BTH
Bigtincan Holdings Limited
ASX
Completion of Retail Offer Booklet despatch
Sentiment:
Capital Raising Announcement
17 June 2024 10:33 PM
Bigtincan Holdings Limited confirms the dispatch of the Retail Offer Booklet for its fully underwritten 1 for 3 accelerated pro-rata non-renounceable entitlement offer.
Capital raise
Bigtincan is undertaking a fully underwritten 1 for 3 accelerated pro-rata non-renounceable entitlement offer.
Summary
- Bigtincan Holdings Limited (ASX: BTH) has dispatched emails and letters regarding the Retail Offer Booklet.
- This is part of the fully underwritten 1 for 3 accelerated pro-rata non-renounceable entitlement offer announced on Tuesday, 11 June 2024.
- The Retail Offer Booklet was lodged with the ASX on Tuesday, 18 June 2024.
- The retail component of the Entitlement Offer opens on Tuesday, 18 June 2024, at 10:00 am (Sydney time) and closes on Tuesday, 2 July 2024, at 5:00 pm (Sydney time).
- Application monies must be received before the closing time.
Sentiment
Score: 7
Explanation: The announcement is a routine update on a capital raising activity, indicating a neutral to slightly positive sentiment as the company progresses with its funding plans.
Positives
- The fully underwritten nature of the entitlement offer provides certainty of funding for Bigtincan.
Risks
- The announcement clarifies that the offer is not available in the United States due to securities regulations.
Future Outlook
The announcement focuses on the mechanics of the retail entitlement offer, with no specific forward-looking statements about Bigtincan's future performance.
Industry Context
Entitlement offers are a common method for listed companies to raise capital. Bigtincan is using this approach to secure funding, which could be for various purposes such as growth initiatives, debt reduction, or acquisitions.
Stakeholder Impact
- Shareholders are impacted through the entitlement offer, giving them the opportunity to purchase additional shares.
- The capital raise could potentially benefit the company's growth and future prospects, indirectly impacting employees and customers.
Next Steps
- Eligible retail shareholders should review the Retail Offer Booklet.
- Eligible retail shareholders should submit their applications and payment before the closing date of 2 July 2024.
Key Dates
- 11 June 2024: Announcement of the fully underwritten 1 for 3 accelerated pro-rata non-renounceable entitlement offer.
- 18 June 2024: Dispatch of Retail Offer Booklet and opening of the Retail Entitlement Offer at 10:00 am (Sydney time).
- 2 July 2024: Closing of the Retail Entitlement Offer at 5:00 pm (Sydney time).
Keywords
Retail Offer Booklet, Entitlement Offer, Bigtincan, BTH, ASX
BTH
Bigtincan Holdings Limited
ASX
Sector: Software & Services
Filings with Classifications
Worse than expected
24 February 2025 6:06 PM
Half Year Results
- The net loss after tax for the six months ended 31 December 2024 was $64m, including a goodwill impairment of $54m related to the proposed Vector transaction.
Better than expected
4 December 2024 5:59 PM
Acquisition Recommendation
- The Vector proposal is considered superior to the previous IAAC deal, resulting in a better outcome for Bigtincan shareholders.
Delay expected
2 December 2024 5:48 PM
Acquisition Update
- The lack of a counter-proposal from Investcorp will likely delay the completion of any transaction, requiring Bigtincan to consider alternative options.
Worse than expected
2 December 2024 5:48 PM
Acquisition Update
- The lack of a counter-proposal from Investcorp is worse than expected, as it indicates a potential failure to secure a deal on favorable terms and increases uncertainty regarding the future of the company.
Better than expected
28 November 2024 5:00 PM
Annual Report
- Bigtincan's FY24 EBITDA of $11.3 million significantly exceeded expectations given the previous year's loss and the challenging macroeconomic conditions.
Worse than expected
24 November 2024 6:19 PM
Acquisition Proposal
- The initial expectation was that the Investcorp deal would proceed, but the emergence of a superior offer from Vector Capital suggests that the initial deal was not the most favorable option for shareholders.
Capital raise
30 October 2024 2:02 AM
Notice of Annual General Meeting
- Resolution 9 seeks shareholder approval to increase the company's equity securities issuance capacity by 10%, potentially allowing for future capital raises to fund growth initiatives.
Capital raise
20 October 2024 6:32 PM
Merger Proposal
- Bigtincan Limited intends to raise up to US$25 million from institutional investors in a PIPE transaction.
- Bigtincan Limited intends to raise up to US$25 million in debt financing.
Capital raise
20 October 2024 6:27 PM
Merger Announcement
- Up to US$25 million (~A$37.3 million) will be raised from institutional investors in a PIPE transaction.
- Up to US$25 million in debt finance will be sought to support the transaction.
Capital raise
1 October 2024 7:51 PM
Business Combination Proposal
- Investcorp plans to invest US$12.5 million in Newco.
- An additional US$25 million in debt and equity funding is being sought from institutional investors to partially fund the cash election opportunity.
Worse than expected
19 June 2024 7:45 PM
Offer Rejection Announcement
- The company rejected the offer from Vector Capital Management, indicating that the offer was below what the company believes it is worth.
Capital raise
17 June 2024 10:33 PM
Capital Raising Announcement
- Bigtincan is undertaking a fully underwritten 1 for 3 accelerated pro-rata non-renounceable entitlement offer.
Capital raise
10 June 2024 7:55 PM
Equity Raising Presentation
- Bigtincan is raising $20.5m to fund investments in core AI technology, data infrastructure related to provisioning of GeneiAI technology, market awareness and development and working capital.
Capital raise
10 June 2024 7:55 PM
Corporate and Business Update
- Bigtincan is conducting a fully underwritten 1 for 3 accelerated pro rata non-renounceable entitlement offer at an offer price of $0.10 per share to raise A$20.5m.
- The proceeds of the Equity Raising will be used to fund investments in core AI technology, data infrastructure related to provisioning of GeneiAI technology, market awareness and development, working capital and transaction costs.
Capital raise
7 June 2024 3:35 AM
Trading Halt Request
- Bigtincan Holdings Limited is conducting an equity raising.
- The equity raising involves both institutional and retail components.
Better than expected
10 April 2024 7:50 PM
Business Update
- The company achieved record Q3 FY24 results for EBITDA, EBITDA margin, and Free Cash Flow, indicating better than expected financial performance.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.