Its been a busy day at PeakHQ!
This morning we went live with a new placement opportunity: Beam Communications (ASX:BCC with a 1:3 option.
Beam’s products have been adopted by some of the world’s largest satellite and telecommunications companies including Iridium, Telstra, KDDI, Inmarsat and Thuraya.
The placement was heavily oversubscribed with over $12m in bids coming in over the course of the day!
Across Markets…
This Afternoon, the Australian sharemarket advanced for a fourth consecutive session, notching up its longest wining streak since July as investors continue to cheer this week’s budget spending blitz.
The S&P/ASX200 Index rose 65.8 points, or 1.1 per cent, to 6102.2 points. The benchmark is up 5.4 per cent for the week.
Blue chips shouldered most of the gains, with CSL up 2.4 per cent, BHP gaining 2.2 per cent and Commonwealth Bank inching 0.8 per cent higher.
Tech stocks also performed strongly, with the S&P/ASX All Technology Index gaining 2.2 per cent.
ELMO Software was the standout gainer for the day, with the stock soaring 12.2 per cent after it acquired UK-based human resources platform Breathe for $32 million.
Netwealth gained 8.3 per cent after the funds management platform said a 25.4 per cent increase in net inflows contributed to a 8 per cent increase in funds under administration in the September quarter.
Source: AFR
Satellite communications technology company Beam Communications Holdings (ASX: BCC) will receive a large cash injection, with demand exceeding $12 million of what was originally a $2.5 million placement.
Leading boutique investment management and corporate advisory firm, Peak Asset Management, lead the offer, seeking initially $2.5 million with significant demand coming from both local and overseas institutions, including sophisticated and professional investors.
Investors were offered $0.25 per share with a one for three option. The options have an exercise price of $0.50 and expire 31 December 2022.
The issue price of $0.25 per share including the options, represent a 19.3% discount to Beam’s last trading price of $0.31, before it went into a trading halt this morning.
In the term sheet to sophisticated and professional investors, Peak Asset Management noted that Beam delivered $14.9m revenues in FY2020, while group EBITDA rose 43% to $3m. The company generated an underlying net profit of $341,419 and is expecting improved FY2021 performance.
Source: Small Caps
Across Asia, Japanese shares closed higher on Thursday, following an upbeat Wall Street session overnight, as hopes for a partial deal on U.S. coronavirus stimulus boosted investor sentiment.
The benchmark Nikkei share average rose 0.96% to 23,647.07, hovering near levels hit on Feb. 20. There were 134 advancers on the index against 84 decliners.
The broader Topix gained 0.55% to 1,655.47.
All but six of 33 sector sub-indexes on the Tokyo exchange traded higher, with shippers, iron and steel and services leading advances on the main bourse.
Overnight, all major indexes on Wall Street ended sharply higher as President Donald Trump urged Congress to pass piece-meal aid packages for coronavirus relief, after he had abruptly called off negotiations on a comprehensive bill
Source: Reuters
Sector: Consumer Discretionary
Year: 2019
Deal Type: Placement
Raise Amount: $2.2m
Price Change: $0.055 +1.85%
Sector: Consumer Discretionary
Year: 2018, 2019
Deal Type: Seed, Bridging and IPO
Raise Amount: $10m
Price Change: $0.16 -3.03%
Sector: Technology
Year: 2018
Deal Type: Seed and IPO
Raise Amount: $10m
Price Change: $0.12 Unchanged
Sector: Mining
Year: 2017
Deal Type: Seed & IPO
Raise Amount: $5m
Price Change: $0.17 -12.82%
Sector: Mining
Year: 2017
Deal Type: IPO & Placement
Raise Amount: $6m
Price Change: $0.060 +1.69%
Sector: Healthcare Equipment and Services
Year: 2016
Deal Type: IPO
Raise Amount: $8m
Price Change: $0.051 Unchanged
Sector: Materials
Year: 2016
Deal Type: IPO
Raise Amount: $9m
Price Change: $0.023 -8.00%
Sector: Biotechnology
Year: 2015, 2017, 2018
Deal Type: Placements & IPO
Raise Amount: $5m
Price Change: $2.97 +3.48%
Sector: Media an Entertainment
Year: 2016
Deal Type: Reverse Takeover
Raise Amount: $4m
Price Change: $0.036 +16.13%
Sector: mining
Year: 2018, 2019, 2020
Deal Type: Placements & Rights Offer
Raise Amount: $1.5m
Price Change: $0.009 -10.00%
Sector: Discretionary
Year: 2020
Deal Type: Placement
Raise Amount: $1.3M
Price Change: $0.0070 Unchanged
Sector: Hemp & CBD
Year: 2020
Deal Type: Pre IPO
Raise Amount: $2.5m
Sector: Psychedelic assisted Therapy
Year: 2020
Deal Type: Pre IPO
Raise Amount: $1.5m
Price Change: CAD $0.065 Unchanged
Sector: Mining
Year: 2020
Deal Type: Placement
Raise Amount: $333k
Sector: Gaming & Digital Advertising
Year: 2020
Deal Type: Placement
Raise Amount: $1.25m
Sector: Mining (Gold)
Year: 2020
Deal Type: Placement
Raise Amount: $982k
Price Change: $0.009 -10.00%
Sector: Mining (Gold/Silver)
Year: 2020
Deal Type: Placement
Raise Amount: $2.3m
Price Change: $0.014 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs. Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au or by telephoning Peak on 1300 304 460
