At least two companies will hit the street on Friday.
First up is smash repairer AMA Group. We’ve known this raising is coming for a while, and it looks like the business will be aiming for $150 million, in a mix of both equity and convertible bonds.
Like many of us, the company has languished thanks to the pandemic and the capital raising takes place while the business works on restructuring its debt before a December 31 deadline.
UBS is running the show and from what we understand, the raising will be supported by AustralianSuper.
Elsewhere, Bell Potter is the lead manager on a $20 million raising for drug developer Neuren Pharmaceuticals. The terms were still being decided as of this evening, but it’s expected to launch on Friday morning.
Meanwhile, AustralianSuper’s bankers have fired the starting gun on a 16.6 per cent stake in NSW poles and wires play Ausgrid, and has called for bids in the week starting October 11; digital twins software player Willow has banked $US43 million ($58 million) from the likes of ex-Macquarie Group CEO and Willow chairman Nicholas Moore as well as fund manager Perennial Value Management, and VBreathe is raising up to $10 million in a pre-IPO round.
Well, isn’t this smashing. AMA Group is set to delve into the world of convertible bonds as part of a $150 million recapitalisation, in a deal expected to be put to fund managers on Friday.
AustralianSuper’s bankers have fired the starting gun on a 16.6 per cent stake in NSW poles and wires play Ausgrid, and has called for bids in the week starting October 11.
Australian born and bred software company Willow will be out to build digital twins of real estate and infrastructure assets globally, after banking a hefty pre-Series B funding round.
Air purification and detoxifier technology business VBreathe is raising up to $10 million in a pre-IPO capital raise that is expected to close next week.
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