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- Family Zone Cyber Safety (FZO) completes a retail entitlement offer as part of a $146.4 million underwritten capital raise
- The capital raise comprises a pro-rata accelerated, non-renounceable entitlement offer to raise $75.4 million and a placement to raise $71 million
- The placement and institutional entitlement offer settled on August 13, raising $114.1 million
- Shareholders applied for 44.6 million new shares under the retail entitlement offer at 55 cents each, raising $24.5 million
- Family Zone Cyber Safety ended the day up 3.45 per cent to trade at 75 cents
Family Zone Cyber Safety (FZO) has completed a retail entitlement offer.
Family Zone is a technology company which uses a cyber safety ecosystem platform to enable a world-first collaboration between schools, parents and cyber safety educators by connecting to all devices through WiFi. The platform allows adults to manage children’s screen time, track devices and limit social media.
The company announced a fully underwritten capital raising of roughly $146.4 million.
The raising was made up of a pro-rata accelerated, non-renounceable entitlement offer to raise around $75.4 million, and a placement to investors to raise around $71 million.
The placement and institutional entitlement offer settled on August 13, raising $114.1 million.
Eligible retail shareholders applied for 44.6 million new shares under the retail entitlement offer at 55 cents, raising $24.5 million, representing a 76 per cent take up of entitlements.
There was a shortfall of around 14.1 million new shares, worth $7.8 million, between the number of new shares subscribed for by eligible retail shareholders and the number of new shares offered under the retail entitlement offer. The shortfall will be allocated by the joint lead managers and underwriters.
Family Zone Cyber Safety was up 3.45 per cent, trading at 75 cents at market close.
