Monday, 18 September 2017 22:07

Dubber raises $7 million to fund expansion plans

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Australian-listed call recording platform provider Dubber is topping up its coffers with the completion of a $7 million capital raising.

The company (ASX:DUB) says the funding will be used to expand operations, particularly in the US and Europe.

According to Dubber’s statement to the ASX, demand has increased for the company’s services in both the US and European markets as a result of industry trends and regulatory conditions.

The capital raising follows Dubber’s recently announced agreements with AT&T, the US-based telecommunications provider, as well as BroadSoft, a global Unified Communications (UC) provider. Dubber has said resources will be deployed to support these agreements and other initiatives as it seeks to grow its business globally.

The capital raising was oversubscribed and will result in the placement of 20,000,000 new fully paid ordinary shares at an issue price of $0.35 per new share.

Under the placement, the new shares are expected to be issued on 22 September.

Morgans Corporate Limited acted as lead manager for the placement which will raise $7 million, before costs.  

The new shares issued under the placement will be issued pursuant to the company’s 15% placement capacity under ASX Listing Rule 7.1 (10,400,000 shares) and 10% placement capacity under ASX Listing Rule 7.1A (9,600,000).


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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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