Henslow advises Atomos Ltd on $34.5m capital raise and block trade

Henslow advises Atomos Ltd on $34.5m capital raise and block trade

We are pleased to have advised Atomos Ltd on their recent $7.5m raise via Placement. Concurrent with the raise, Henslow also completed a $27.0m block trade of Atomos shares. Atomos is a global video technology company delivering award-winning, simple to use monitor-recorder content creation products. Atomos products offer content creators a fast, high quality and affordable production system. The raise will allow the business to further target emerging and fast-growth markets including social, pro-video and entertainment. The block trade has enabled the Company to reposition its register as it embarks on its next phase of growth.

 

Backing success all the way.

Henslow has advised Atomos over the last three and a half years across growth, pre-IPO, IPO and secondary market. This will be the sixth capital raise that Henslow has completed for Atomos, with a total of $70m now being raised. The relationship is a great example of our excitement to work with a client throughout their lifecycle, understanding every aspect of their business and becoming a lasting partner.

Jeromy Young, Founder and CEO of Atomos said,

“this is another milestone in our capital management strategy which is only one aspect in building a strong business. Over the past three and a half years the team at Henslow have assisted me and the Company in many facets of building a strong business from Board, Governance and Financial Systems through to the more public announcements of capital structuring which has included Unlisted, Pre-IPO and IPO raisings and now our first secondary market raise. I look forward to continuing our work with Henslow for many years to come.”

 

Preparing for new market growth.

Since operations began, Atomos has been proactive in their product development producing a suite of powerful content creation products which following significant market expansion has led to, to rapid recent growth. The raise was completed with a strategic view to further expand into the entertainment and social market segments which are estimated to be ten times the size of the historical pro video market.

 

The Details.

Pricing for the Placement was determined via a strong institutional bookbuild with the ultimate price of $1.00 representing a, 2.9% discount to the last traded price of the Company’s shares on 26 June 2019. New shares issued under the Placement will rank equally with Atomos’ existing fully paid ordinary shares. No shareholder approval is required for the Placement, as the Company will use a portion of its placement capacity under ASX Listing Rule 7.1. The Block Trade was also completed at $1.00 a share.

 

To discuss this transaction, please contact Ryan Whitelegg (rwhitelegg@henslow.com) or to see how Henslow’s leading team can assist your business, please contact info@henslow.com or visit our website at Henslow.com.