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Megaport Announces to Raise Up to $60m

13 Mar 2019  |  09:44:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Megaport to raise up to $60 million

Megaport announced that it will raise up to $50m in new equity via a fully underwritten placement to institutional, experienced, sophisticated and professional investors (Placement), and up to a further $10m via a Share Purchase Plan following the Placement (Capital Raising). It has entered into a trading halt pending the release of an announcement regarding completion of the Placement. It is undertaking the Capital Raising to accelerate expansion to new locations and new markets, undertake capacity upgrades, fund innovation and development of new technology and fund operating costs and general working capital requirements.

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