BuildingIQ announces A$1.06 million private placement at 1.8c per CDI
13 December 2019
Sydney – BuildingIQ, Inc. (ASX: BIQ) is pleased to announce that it has received commitments from existing investors to raise A$1.06 million to fund its growing Greenfield projects business. The significant opportunities from Australia’s construction boom, which experts are predicting will continue for a number of years, is underpinning BuildingIQ’s growth. This growth is positive for the Company however, it requires funding. The private placement follows BuildingIQ’s indications to the market (ASX Announcement 27 August 2019: FY2019 Interim Results Presentation) of its intention to raise further capital this quarter specifically to support the financing needs of our Greenfield business growth. Details of the Placement
The private placement of CHESS Depositary Interests (CDIs) of the Company to raise A$1.06m (Placement) will be to certain sophisticated and professional investors, who are existing security holders, and two of its directors (subject to security holder approval). The Placement of A$1,061,000 of CDIs (representing 58,944,445 CDIs at a price per CDI of A$0.018) will be made under the Company’s existing placement capacity in accordance with ASX Listing Rules 7.1 and 7.1A as follows:
- 31,781,749 CDIs will be issued on or around 16 December 2019 under Listing Rule 7.1A.2 utilising the Company’s Listing Rule 7.1A placement capacity;
- 22,718,252 CDIs will be issued on or around 16 December 2019 under the Company’s Listing Rule 7.1 placement capacity and 4,444,444 CDIs following receipt of shareholder approval under Listing Rule 10.11 as detailed further below.
For further information contact:
Ph. +61 2 9360 0602
Ph.: +61 414 861 629
BuildingIQ (ASX: BIQ) helps building owners and operators worldwide lower energy use, increase building operations efficiency and enhance tenant comfort. The Company’s 5i cloud-based platform and Managed Services deliver on the promise of Internet of Things (IoT) for buildings. Approximately 140M square feet of building space is currently under management with BuildingIQ. www.buildingIQ.com
Foreign Ownership Restrictions
BuildingIQ’s CHESS Depositary Interests (CDIs) are issued in reliance on the exemption from registration contained in Regulation S of the US Securities Act of 1933 (Securities Act) for offers or sales which are made outside the US. Accordingly, the CDIs have not been, and will not be, registered under the Securities Act or the laws of any state or other jurisdiction in the US. The holders of BuildingIQ’s CDIs are unable to sell the CDIs into the US or to a US person unless the re-sale of the CDIs is registered under the Securities Act or an exemption is available. To enforce the above transfer restrictions, all CDIs issued bear a ‘FOR US’ designation on the ASX. This designation restricts any CDIs from being sold on ASX to US persons. In addition, hedging transactions with regard to the CDIs may only be conducted in accordance with the Securities Act.