Shaw and Partners is pleased to be appointed as Lead Manager to the proposed capital raising by Rhipe Limited (ASX.RHP).

The Company is proposing to raise up to approximately $33.6 million, via a Placement of up to approximately 21.0 million new ordinary fully paid shares at $1.60 per security.

The offer price of $1.60 represents a 9.6% discount to last close of $1.770, a 9.3% discount to 5-day VWAP of $1.765 and a 9.5% discount to 10-day VWAP of $1.767.

Rhipe will utilise the proceeds of the offer to enhance balance sheet flexibility for opportunistic acquisitions.

The offer is available to Australian resident Sophisticated and Professional Investor clients only.

rhipe Limited is a market leader in cloud and service provider software licensing in the Asia Pacific. It provides its partners with a complete end to end cloud solution, and distributes and aggregates subscription licensing models for service providers from many of the world’s leading software vendors, including Microsoft, Citrix, IBM, Red Hat and VMWare.

For more information please contact your Shaw and Partners Adviser.