PaySauce raises capital for australian expansion with $0.26 share placement

PaySauce Limited has completed a placement of 13,514,767 ordinary shares at NZD 0.26 per security, raising capital for its expansion into the Australian market. This issue represents 9.35% of the total class of financial products in existence prior to the placement. Following the issue, the total number of ordinary shares in PaySauce stands at 158,085,512.

The placement involved inviting existing shareholders and new institutional investors from New Zealand and Australia. Allocation objectives prioritized existing institutional shareholders receiving at least their pro-rata equivalent of the placement, with a focus on attracting long-term, supportive shareholders to enhance liquidity and introduce new institutional investors.

Eligible retail shareholders were also given the opportunity to subscribe for additional shares via a share purchase plan. Final allocation decisions were made by PaySauce in collaboration with Cameron Partners, their financial adviser. The shares issued rank equally with all other fully paid ordinary shares in PaySauce.