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- Orcoda (ODA) appoints Arrowhead Capital Advisors following its issue of United States Patent US11/182704 B2 from the United States Patent and Trademarks Office
- Arrowhead will raise the US domestic capital via a Special Purpose Vehicle (SPV), to exploit the patented ODA technology platforms across the US market
- An initial US$25-30 million (A$33.7-67.4 million) is targeted for commercialise the Patent to accredited and sophisticated investors in the US in a Series A capital raise
- ODA shares are up 4.17 per cent to 12.5 cents per share
Orcoda (ODA) has appointed Arrowhead Capital Advisors following its issue of United States Patent US11/182704 B2 from the United States Patent and Trademarks Office.
The patent relates to the company’s powerful Booking System for Personnel Supply Chains.
Arrowhead will raise the US domestic capital via a Special Purpose Vehicle (SPV), to exploit the patented ODA technology platforms across the US market.
An initial US$25-30 million (A$33.7-67.4 million) is targeted for commercialise the Patent to accredited and sophisticated investors in the US in a Series A capital raise.
The advisory fees payable to Arrowhead was $50,000 in due diligence payments and otherwise structured as six per cent up to US$10 million, 4.5 per cent at US$10 million up US$25 million and three per cent above US$25 million.
Orcoda intends to the transfer of the patent and US rights of associated intellectual property to the SPV in return for an equity position of between 75-85 per cent of the SPV, including an upfront cash payment of up to 25 per cent of raised capital before costs.
ODA shares were up 4.17 per cent to trade at 12.5 cents at market close.
