17 Jan 2023

TradeWindow raising $20m in capital 'essential' to its growth

10:58 am on 17 January 2023
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Photo: 123RF

Trade software company TradeWindow is planning to raise up to $20 million in new capital to support growth.

The offer price is 45 cents per share, which was a 10 percent discount on yesterday's market close and subject to shareholder approval.

If shareholder approval was not received, the offer would still proceed but would be limited to about $6.8m.

"This capital raising is essential for TradeWindow's ongoing growth and success," chairperson Alasdair MacLeod said.

TradeWindow previously said further investment would be necessary to achieve its goals and follows a $10m capital raise in July.

"The need for a capital raising has been signalled to the market in recent months and we have received indications of support from key existing shareholders," Macleod said.

"Despite significant addressable markets, there is a limited window for TradeWindow to scale and take advantage of the opportunities available."

The offer was open to shareholders in TradeWindow and new investors residing in New Zealand, as well as wholesale investors in Australia, the Territory of the Wallis and Futuna Islands, Hong Kong, Singapore and certain other jurisdictions.

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