Gratifii (ASX:GTI) raises $10.0m to acquire Simplicity and invest in Marketplacer
Henslow is pleased to have acted as Joint Lead Manager to Gratifii Ltd (ASX:GTI) on their recent $10.0m two-tranche institutional placement. The placement was well supported by new and existing shareholders with the GTI Board also participating, subject to shareholder approval.
The funds raised will be used to:
- Acquire Simplicity, a provider of loyalty and rewards / points services across ANZ, expanding Gratifii’s market presence whilst adding a blue-chip enterprise client base (incl. a leading international QSR franchise chain, Schneider Electric & Dulux);
- Invest in Marketplacer, a global enterprise marketplace platform, expanding the accessible product and supplier network that is available to Gratifii’s 18+ million member account base; and
- Provide working capital to accelerate product development and new customer wins.
Together, the above transactions position Gratifii at the centre of a rapidly growing loyalty and rewards consolidation opportunity, not just in Australia and New Zealand, but globally.
The shared unit economics are expected to deliver incremental run-rate EBITDA contribution of $2.5m to Gratifii within 12 months, with discussions well progressed with potential new customers.
The $10.0m two-tranche placement was conducted at a fixed price of $0.040 per share, a 14.9% discount to the last close price. Participating investors also received 1 free attaching option for every 2 shares subscribed, each with an exercise price of $0.100 and 2-year maturity date.
This is the first capital raise Henslow has undertaken for Gratifii, and we look forward to continuing to support them as they enter the next exciting phase of growth.
This transaction further adds to Henslow’s strong track record in technology sector assisting several clients on their growth capital requirements.
For further information, please contact Justin Lewis (Managing Director) at jlewis@henslow.com and Sebastian Bell (Director) at sbell@henslow.com.
