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12-04-2024, 02:35 PM
Winking Studios, IPO-ed on Catalist in Nov2023, raising net proceeds of ~5mil.
Now just 4 months later, it is doing a placement that is a few times larger to raise net proceeds of ~24mil. The natural question would be Why didn't it raise a bigger amount earlier?
This is especially so, as the substantial/controlling shareholder Acer Group added more shares together with public OPMIs during the Nov2023 IPO. And in the current fund raising exercise, it is raising new equity at prices ~25% higher than IPO which will also be fully covered by Acer Group.
PROPOSED PLACEMENT OF UP TO 108,000,000 NEW ORDINARY SHARES IN THE CAPITAL OF THE COMPANY AT THE PLACEMENT PRICE OF S$0.25 FOR EACH PLACEMENT SHARE
Pursuant to the Placement Agreement, the Company has agreed to offer, by way of placement, and the Placement Agent has agreed to procure subscribers on a best efforts basis for, an aggregate of up to 108,000,000 fully paid-up ordinary shares (the "Shares") in the capital of the Company (the "Placement Shares") at a placement price of S$0.25 for each Placement Share (the "Placement Price"), amounting to a maximum aggregate consideration of up to S$27,000,000 (the "Proposed Placement").
https://links.sgx.com/FileOpen/Winking%2...eID=795679
Now just 4 months later, it is doing a placement that is a few times larger to raise net proceeds of ~24mil. The natural question would be Why didn't it raise a bigger amount earlier?
This is especially so, as the substantial/controlling shareholder Acer Group added more shares together with public OPMIs during the Nov2023 IPO. And in the current fund raising exercise, it is raising new equity at prices ~25% higher than IPO which will also be fully covered by Acer Group.
PROPOSED PLACEMENT OF UP TO 108,000,000 NEW ORDINARY SHARES IN THE CAPITAL OF THE COMPANY AT THE PLACEMENT PRICE OF S$0.25 FOR EACH PLACEMENT SHARE
Pursuant to the Placement Agreement, the Company has agreed to offer, by way of placement, and the Placement Agent has agreed to procure subscribers on a best efforts basis for, an aggregate of up to 108,000,000 fully paid-up ordinary shares (the "Shares") in the capital of the Company (the "Placement Shares") at a placement price of S$0.25 for each Placement Share (the "Placement Price"), amounting to a maximum aggregate consideration of up to S$27,000,000 (the "Proposed Placement").
https://links.sgx.com/FileOpen/Winking%2...eID=795679