Shaw and Partners is pleased to be appointed as Lead Manager to an equity capital raising by Spirit Telecom Limited (ASX: ST1).

Spirit Telecom is seeking to raise up to $10.0 million through a two tranche placement of approximately 90.9 million new ordinary fully paid shares at $0.11 per security. Tranche 1: Unconditional placement of 78.8m shares to raise approx. $8.7 million. Tranche 2: Conditional placement of up to 12.2m shares to raise up to approx. $1.3 million subject to shareholder approval.

New shares issued under the Placement will rank pari passu with existing securities.

The offer price of $0.11 per security represents a 21.4% discount to Spirit's last close of $0.140 and a 18.4% discount to its five-day VWAP of $0.136 (at 8 April 2020).

Spirit Telecom Limited is a leading provider of highspeed internet & IT / MSP services to SMB’s and essential industries such as hospitals, schools, aged care & government.

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

For more information please contact your Shaw and Partners Adviser.