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Swoop Holdings Limited ( (AU:SWP) ) has shared an announcement.
Swoop Holdings Limited has announced an accelerated, non-renounceable entitlement offer to raise approximately $10 million by issuing shares at $0.10 each. This move is part of Swoop’s strategy to strengthen its financial position, with the offer being partially underwritten by MA Moelis Australia Advisory Pty Ltd. The resignation of non-executive directors James Spenceley and Matt Hollis has also been announced, rendering certain proposed resolutions at an upcoming EGM irrelevant. The entitlement offer is not expected to materially affect the control of the company due to its structure and current shareholder distribution.
The most recent analyst rating on (AU:SWP) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Swoop Holdings Limited stock, see the AU:SWP Stock Forecast page.
More about Swoop Holdings Limited
Swoop is a national provider of data, mobile, and voice services targeting channel, business, and residential customers. The company focuses on its own fibre and fixed wireless infrastructure to deliver ultra-reliable, high throughput, and flexible telecom network services, aiming to become Australia’s leading challenger in the internet and telecommunications sector.
YTD Price Performance: -29.49%
Average Trading Volume: 109,287
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$34.62M
See more data about SWP stock on TipRanks’ Stock Analysis page.