BTH
Bigtincan Holdings Limited
ASX
Trading Halt
Sentiment:
Trading Halt Request
7 June 2024 3:35 AM
Bigtincan Holdings Limited (BTH) has requested a trading halt pending an announcement regarding the outcome of the institutional component of its accelerated entitlement offer.
Capital raise
Bigtincan Holdings Limited is conducting an equity raising.
The equity raising involves both institutional and retail components.
Summary
- Bigtincan Holdings Limited (BTH) has requested a trading halt of its ordinary shares.
- The trading halt is related to a proposed equity raising involving institutional and retail components.
- BTH anticipates the trading halt will last until the commencement of trading on June 12, 2024.
- The halt is to prevent uninformed trading and facilitate an orderly equity raising process.
- The announcement regarding the outcome of the institutional component of the equity raising will end the trading halt.
Sentiment
Score: 6
Explanation: The announcement is neutral, simply stating the facts of the trading halt and upcoming equity raising. The sentiment is slightly positive as the company is raising capital, which could lead to future growth.
Positives
- The trading halt ensures that trading does not occur on an uninformed basis.
- The trading halt allows the equity raising to take place in an orderly manner.
Risks
- The equity raising may not be successful.
- The announcement of the outcome of the institutional component of the equity raising could negatively impact the share price.
Future Outlook
The company is undertaking an equity raising, the outcome of which will be announced to the market.
Management Comments
- BTH requests that the trading halt remain in place until the commencement of trading on 12 June 2024.
- BTH anticipates that the trading halt will cease upon its announcement to the market in relation to the outcome of the institutional component of the Equity Raising.
Industry Context
Equity raising is a common practice for companies seeking capital for growth or other corporate purposes. Trading halts are often implemented to ensure fair and orderly markets during such activities.
Stakeholder Impact
- Shareholders: Existing shareholders may experience dilution if they do not participate in the equity raising.
- Employees: The equity raising could provide the company with additional resources to invest in growth, potentially benefiting employees.
- Customers: The equity raising could enable the company to improve its products and services, benefiting customers.
Next Steps
- BTH will announce the outcome of the institutional component of the equity raising.
- Trading in BTH shares will resume following the announcement, expected on June 12, 2024.
Key Dates
- 7 June 2024: Date of the market announcement and letter from Bigtincan to ASX requesting the trading halt.
- 11 June 2024: Commencement of the trading halt on BTH's ordinary shares.
- 12 June 2024: Expected commencement of normal trading, pending announcement of the institutional component of the equity raising.
Keywords
trading halt, equity raising, Bigtincan Holdings, institutional component, retail component, 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.