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Audiovisual networking biz Audinate raising $50m
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Listed audiovisual networking business Audinate was making the most of its post-results rally, putting a $50 million capital raising to listed equities investors on Thursday morning.
Audinate CEO Aidan Williams.
Its brokers UBS and Canaccord Genuity went looking for investors at $13 per share as the $1.1 billion company entered a trading halt. This represents a 9 per cent discount to the last close price of $14.30.
The raise was structured as a fully underwritten placement to accelerate Audinate’s growth strategy.
Its shares are up nearly 48 per cent in the past month after it posted record results for the 2023 financial year.
More to come.
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