Highlights:
- Oneview successfully raises A$20 million via a
well-supported Placement to new and existing institutional
investors
- Approximately A$2.5 million of the Placement is subject to
security holder approval
- Security Purchase Plan to open on 24 November 2021, to
eligible existing Oneview securityholders to raise up to a further
approximately A$3 million1, subject to security holder
approval
- Proceeds from the Placement and Security Purchase Plan are
intended to be primarily used to fund further development of the
Company’s Cloud Enterprise product, accelerate its growth strategy
and strengthen its balance sheet
Healthcare technology company Oneview Healthcare PLC (ASX : ONE)
is pleased to announce that it has successfully completed an
institutional placement to raise A$20 million (in two tranches,
approximately A$17.5m to be issued on 19 November 2021 and
approximately A$2.5 million to be issued subject to security holder
approval)(Placement).
Oneview CEO, James Fitter, commented: “The Company is delighted
with the support from its existing loyal securityholders, and is
very pleased to welcome new Australian and Asian institutional
securityholders to the register. This funding round comes at a time
of great opportunity in healthcare, given the acceleration of
digitalisation as a result of the pandemic. As nurse and other
hospital staffing pressures and shortages worsen, we are pleased
that our solution can relieve some of their burden by providing
digital tools to increase the efficiency and effectiveness of care
for both patients and providers.” James Fitter added: “In addition
to the Placement, the Company will be undertaking a Security
Purchase Plan to provide an opportunity for retail investors to
participate in the capital raise.”
Proceeds from the Placement and Security Purchase Plan
(SPP) are intended to be used for:
- Sales and Product Development
- Funding to extend Oneview’s first-mover advantage as a
best-in-class cloud-based healthcare solution through expansion of
sales and marketing capabilities and delivery of new product
enhancements
- Scaling Cloud
- Funds allocated to DevOps investment to deliver operational
efficiency and expand scalability of Cloud Enterprise
- Working capital primarily allocated to proven OEM hardware for
fulfilling new contract requirements and for entry to new
markets.
- Balance Sheet strengthening
- Oneview acknowledges that as it pursues larger contracts with
leading healthcare providers in Australia, Asia, EU and the US,
additional focus is placed on the Company’s capitalisation and
ability to fund long term contracts. Major health systems seeking
to integrating Oneview systems are likely to be more receptive to
partnering with a well-capitalised Oneview.
Placement
The Placement received very strong support from existing
institutional and sophisticated securityholders, as well as new
Australian and Asian institutional investors.
Under the Placement, Oneview will issue 74,074,074 new CHESS
depository interests (CDIs) over new fully paid ordinary
shares in the Company (on a 1:1 basis) in two tranches. The
Placement was priced at A$0.27 per new CDI which represented a
18.2% discount to the closing price of Oneview’s CDIs on the ASX on
10 November 2021 (being the last trading day before the Company
announced it was undertaking a capital raise) and a 20.8% discount
to the 5-day volume weighted average price of Oneview’s CDIs ended
10 November 2021.
Tranche 1 of the Placement, being 65,019,787 CDIs will be issued
on 19 November 2021 and the issue of Tranche 2 of the Placement,
being 9,054,287 CDIs is subject to security holder approval at an
Extraordinary General Meeting (EGM), expected to be held on
Friday, 17 December 2021. All new CDIs issued under the Placement
will rank pari passu with existing CDIs on issue.
Canaccord Genuity (Australia) Limited acted as Lead Manager and
Bookrunner to the Placement. Bell Potter Securities Limited acted
as Co-Lead Manager to the Placement.
Security Purchase Plan
In conjunction with the Placement, the Company intends to offer
existing eligible securityholders the opportunity to participate in
a SPP to raise up to approximately A$3m subject to security holder
approval at the EGM.
The SPP will be offered to eligible securityholders in
Australia, New Zealand and Ireland. Under the SPP, holders of
existing securities in Oneview on the register as at 7.00pm (Sydney
time) on Friday, 12 November 2021 and who are eligible
securityholders in Australia, New Zealand and Ireland will be
invited to subscribe for up to A$30,000 of new CDIs in Oneview.
The issue price under the SPP will be A$0.27 per new CDI, being
the same issue price as under the Placement. Oneview reserves the
right to increase the size of the SPP or scale-back applications
under the SPP at its discretion.
Participation in the SPP is optional. Further information in
relation to the SPP, including the SPP terms and conditions, will
be outlined in a separate SPP Booklet which is expected to be
dispatched to eligible securityholders on Wednesday, 24 November
2021.
It is expected that the new CDIs under the SPP will be issued on
21 December 2021 and will rank pari passu with existing CDIs on
issue.
Indicative key dates for the SPP are set out below:
Event
Time (AEST) / Date
SPP record date
7pm Friday, 12 November 2021
SPP offer opens and SPP booklet
dispatched
Wednesday, 24 November 2021
SPP closing date
Tuesday, 14 December 2021
EGM
expected to be Friday, 17
December 2021
SPP issue date
Tuesday, 21 December 2021
Normal trading of New Securities issued
under the SPP
Wednesday, 22 December 2021
All dates specified in this announcement (Including In the above
table) are indicative only and subject to change without notice
Extraordinary General Meeting
Oneview expects to hold an extraordinary general meeting on
Friday, 17 December 2021 to seek security holder approval to the
issue of the CDIs under tranche 2 of the Placement and the SPP.
Oneview will circulate details for the EGM in due course.
This announcement has been approved for release by the board
of Oneview Healthcare plc.
About Oneview Healthcare plc
For healthcare systems who lead on exemplary care, Oneview
Healthcare plc provides digital tools for patients, families and
caregivers to improve the care experience. Unifying a facility’s
systems, content and services into one digital Care Experience
Platform at the point of care, Oneview helps providers to measure
and improve experience, optimize patient flow, deliver virtual care
and enable patients and families with dedicated touch and TV
devices. Oneview has partnered with leading healthcare systems in
the US, Australia, the Middle East and Asia to unify the care
experience, in 63 hospitals.
______________________ 1 Oneview reserves the right to increase
the size of the SPP or scale-back applications under the SPP at its
discretion.
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version on businesswire.com: https://www.businesswire.com/news/home/20211115005912/en/
James Fitter, CEO Helena D’Arcy, Interim CFO & Company
Secretary Website : www.oneviewhealthcare.com
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