Bigtincan (ASX:BTH) share price rockets 20% with capital raising update

The company’s shares are on the move today…
The post Bigtincan (ASX:BTH) share price rockets 20% with capital raising update appeared first on The Motley Fool Australia. –

The Bigtincan Holdings Ltd (ASX: BTH) share price is soaring after the company returned to trading today following its completed Placement and Institutional Entitlement Offer.

At the time of writing, the software company’s shares are fetching $1.44, up a sizeable 20.5%.

Bigtincan share price resumes

It’s been a strong day for the Bigtincan share price, with investors buying up amid the company’s successful equity raise.

In a statement to the ASX, Bigtincan advised it has raised gross proceeds of approximately $79.4 million. This consists of a placement to United Stated-based investment firm SQN investors and an accelerated institutional component.

The placement saw 20 million shares issued to SQN investors at a price of $1.05 per share, raising $21 million. This was completed Tuesday 24 August.

On the other hand, the institutional component is set to raise roughly $58.4 million at the same price. This comprises a 1 for 4 underwritten accelerated pro-rata non-renounceable entitlement offer. In turn, the company will issue around 55.6 million new ordinary shares.

A retail entitlement component is also expected to be raised, allowing everyday shareholders to take part in the offer. It’s projected approximately a further $56 million (before costs) will be added to Bigtincan’s equity raise.

In total, all 3 components will bring a value of $135.4 million should the retail offer move forward.

The proceeds will go towards funding the acquisition of United States-based Brainshark, Inc. for US$86 million (A$118.7 million). Bigtincan regards Brainshark as a strong fit for its growing portfolio.

About the Bigtincan share price

Over the past 12 months, Bigtincan shares have moved in circles with sharp share price movements. The company’s share price is up 65% since this time last year, with 31% gains year to date.

Bigtincan presides a market capitalisation of about $631 million, with more than 435 million shares on its books.

The post Bigtincan (ASX:BTH) share price rockets 20% with capital raising update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Bigtincan right now?

Before you consider Bigtincan, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bigtincan wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Bigtincan (ASX:BTH) share price halted ahead of $116 million Brainshark acquisition
3 exciting small cap ASX shares to watch right now

3 small cap ASX shares to put on your watchlist this week

Leading brokers name 3 ASX shares to buy today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!