Shaw and Partners acted as Lead Manager to the placement undertaken by Spirit Telecom Limited (ST1).

The company is raising up to $5.2 million via way of a placement to institutional and sophisticated investors and a share purchase plan.

The placement component was oversubscribed and supported by a number of existing and new investors.

Funds from the capital raising will be used to support ST1’s acquisition of LinkOne Group, which operated a complementary high speed ‘fixed wireless’ telecommunications network.  The acquisition is expected to be highly earning accretive, and expand Spirit’s network in key markets of Sydney and Brisbane.

About Spirit Telecom

Spirit Telecom Limited is a modern telecommunications provider of superfast Internet access and telephony  services that listed on ASX 26 June 2016. A fast-growing niche Telecommunications Carriage Service Provider, Spirit is focused on supplying fibre based broadband services to multi-dwelling user locations including residential, business, student accommodation, community housing and business parks. Spirit was voted as being Australia’s fastest Internet Service Provider (ISP) for 2015 by PCMag.com. With 10-year  brand awareness, Spirit prides itself on delivering real service to its Australian residential and commercial  customers and provides customers with the highest quality product. Spirit has a history of successfully acquiring and integrating complimentary companies, including Voxcom  (2012), My Telecom (2015), Phone Name Marketing (2016) and World Without Wires (2017)