Shaw and Partners appointed as Joint Lead Manager to the capital raising by Pentanet Corporate14 Apr 2023

Shaw and Partners is pleased to be appointed as Joint Bookrunner and Joint Lead Manager to the proposed capital raising by Pentanet Limited (ASX.5GG).

 

The Company is seeking to raise a minimum of A$4.5 million by issuing approximately 54.2 million new ordinary fully paid shares at A$0.083 per share by way of a single tranche institutional placement with the ability to take oversubscriptions up to its full placement capacity of A$6.1m.

 

New Shares will be issued at a price of A$0.083 per New Share (Offer Price). The Offer Price represents:
• 17.0% discount to last traded price of A$0.100
• 18.1% discount to the 5-Day VWAP of A$0.1013
• 19.6% discount to the 10-Day VWAP of A$0.1032

 

Proceeds of the Placement will enable Pentanet to strategically allocate funds towards upgrading existing tower sites with 5G infrastructure, ultimately contributing to the growth and expansion of the on-net run rate. Funds raised by Pentanet should also enable it to reach operating break-even and cash flow positive.

Pentanet is a Perth-based provider of high-speed fixed-wireless internet services. Since inception in 2017, Pentanet has built the largest Fixed Wireless (FW) telecommunications network across the Perth metro area

 

The offer is available to Australian Sophisticated and Professional Investors only.  

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