Call recording and voice intelligence software company Dubber Corp is seeking to raise $110 million in a deal at $2.95 a share.

The deal was structured as a placement and priced at a 7.8 per cent discount to the last close.

Lead managers and underwriters Barrenjoey and Shaw were seeking buyers on Monday morning.

“Proceeds from the offer will be used to fund M&A opportunities and an acceleration of the company’s product development, brand awareness and go-to market initiatives,” the term sheet sent to potential investors said.

The brokers were calling for bids by 3.30pm on Monday.

The raising was launched as Dubber presented its June quarter results. The company said it recorded $39 million in annualised recurring revenue, had more than 420,000 subscribers (up 118 per cent on the same time last year) and recorded $7.4 million revenue in the quarter.

Article source: AFR, 26 July 2021