Wisr (ASX:WZR) share purchase plan

Company News

by Katrina Bullock

On 16 January Wisr (ASX:WZR) announced a placement of approximately 181 million ordinary shares to professional and sophisticated investors, for proceeds of $33.5 million.

To provide retail investors with a similar opportunity, it is offering a share purchase plan which will allow retail investors to purchase up to $30,000 worth of Wisr shares, without incurring brokerage or transaction costs.

The Company aims to raise an additional $1.5 million at eighteen and a half cents per share. That price represents a discount of around 15.9 per cent of the volume-weighted average price of the shares for the 5 days leading up to its 16 January announcement.

The offer to partake in the share purchase plan closes on 3 February 2020 and the funds will be used to scale its core lending business, support the ongoing development of its category-defining products and general working capital.

Shares in Wisr (ASX:WZR) last traded at 24 cents.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.