Argonaut as Joint Lead Manager has been successful in raising A$3 million for Threat Protect Australia Limited (ASX: TPS) (“Threat Protect”) via an oversubscribed placement to professional and sophisticated investors of 100,000,000 new ordinary shares at an issue price of A$0.03 per share, together with Morgans Corporate Limited.
The funds were raised for the acquisition of two additional securities operations that were added to the existing Threat Protect business and to ensure Threat Protect has sufficient capital to fund acquisitions and invest in the continued growth and development of its expanded operations. Argonaut provided strategic advice to the Company on the acquisitions.
Threat Protect Chairman, Derek La Ferla said “We are very pleased to see such strong demand for our stock and welcome new shareholders onto the register of Threat Protect. This equity raising not only provides a strong integration platform for the AEP and IRG businesses but also provides ample capacity to further grow the Threat Protect business as future opportunities arise.”
Argonaut is delighted to provide support to Threat Protect and looks forward to the relationship continuing.
Additional information regarding Threat Protect and the Capital Raising can be found on the company’s website at www.threatprotect.com.au.
