Capital Raises Weekly Wrap - 06/09/2021

This past week we have seen an activity spike in the capital raising space with 19 placements occurring and an additional 10 companies still remain in a trading halt this morning seeking to raise capital.

Placement Overview

*Placements are limited to those which left a trading halt between 06/09 and 10/09.

Aussie Broadband Limited (ASX:ABB) raised $114m via placement with funds to be used to support acquisitive growth by M&A, new business products and technology development, and/or increase technology development to improve network efficiency and fund the growth of fibre and network assets. The issue price of $4.0 represented a 13.6% on the last close price and a 2.6% discount on the previous 10 day VWAP.

Greenwing Resources Limited (ASX:GW1) raised $6.15m via placement with funds to be used to support lithium exploration, graphite exploration, advanced materials research and working capital. The issue price of $$0.24 represented a 22.6% on the last close price and a 16.8% discount on the previous 5 day VWAP.

Strategic Energy Resources Limited (ASX:SER) raised $1.32m via placement with funds to be used to drill the Achilles 1 prospect at South Cobar, the Lorraine North prospect at Isa North as well as working capital. The issue price of $0.044 represented a 12% on the last close price.

Sector Breakdown

For a more detailed look at how the ASX sectors are performing check out: https://www.freshequities.com/ASX/sectors 

90 Days Post Placement Performance

Looking back 90 days to see how placements have performed post placement takes us back to the first week of May.

Top performing:

• Caravel Minerals Limited (ASX:CVV) peaked at a 124% increase from issue price 22 days post raise and fell back to an increase of 76% after 90 days.

• Ai-Media Technologies Limited (ASX:AIM) peaked at a 32% increase from issue price 90 days post raise.

• RAIZ Invest Limtied (ASX:RZI) peaked at a 37% increase from issue price 77 days post raise and fell back to an increase of 27% after 90 days.

Worst performing:

• Hexagon Energy Materials Limited (ASX:HXG) saw a 33% decrease from issue price 90 days post raise.

• Firstwave Cloud Technology Limited (ASX:FCT) saw a 26% decrease from issue price 90 days post raise.

• St George Mining Limited (ASX:SGQ) saw a 17% decrease from issue price 90 days post raise.

Check out our Past Capital Raises page for more information on past transactions.