Happy Friday. We’re back with the latest and officially 10 issues in! I’ve decided to swap the issue number for a daily title.
I have been mulling over doing a week in review recap. If this is something you’re interested in reply back to this email.
Without further ado here is what moved the markets yesterday.
📊 A$286.4M raised across 7 deals | 4 sectors | Market sentiment: Mixed | Guidance changes: Mixed
Profit Guidance Updates
Bapcor Limited (BAP)
Guidance Update
$81-82M NPAT
Market Cap: $1.73B +1.59% ●
$81-82M NPAT
Market Cap: $1.73B +1.59% ●
FY25 Pro-forma NPAT: $81-82M
Period: FY25
Update Type: Revised guidance
Period: FY25
Update Type: Revised guidance
Key Drivers: Weaker sales in May-June, business consolidation disruption
Management Quote: "With a refreshed leadership team and business strategy in place... I am confident the business will return to sustainable growth"
Step One Clothing (STP)
Guidance Update
$86.9M Revenue
Market Cap: $141M +4.83% ●
$86.9M Revenue
Market Cap: $141M +4.83% ●
FY25 Revenue: $86.9M
FY25 EBITDA: $17.4M
FY25 NPAT: $12.6M
Previous FY24: Revenue $84.5M, EBITDA $18.1M, NPAT $12.4M
FY25 EBITDA: $17.4M
FY25 NPAT: $12.6M
Previous FY24: Revenue $84.5M, EBITDA $18.1M, NPAT $12.4M
Key Drivers: Subdued consumer spending, cost-of-living pressures
Management Quote: "FY25 has been a challenging year, with subdued consumer spending and ongoing cost-of-living pressures"
QuickFee Limited (QFE)
Guidance Upgrade
A$7.2M Q4 Revenue
Market Cap: $17M +2.17% ●
A$7.2M Q4 Revenue
Market Cap: $17M +2.17% ●
Q4 FY25 Revenue: A$7.2M (+18% growth)
FY25 Performance: Positive underlying EBITDA
Growth: +18% quarterly revenue growth
FY25 Performance: Positive underlying EBITDA
Growth: +18% quarterly revenue growth
Key Drivers: Strong performance in US Pay Now revenue and AU Finance revenue
Standout Metric: Record quarterly revenue with 18% growth
Major Capital Raisings
Xero Limited (XRO)
Share Purchase Plan
A$129.5M
Market Cap: $29.66B +0.12% ●
A$129.5M
Market Cap: $29.66B +0.12% ●
Issue Price: A$174.67
Pricing: 2% discount to 5-day VWAP
Structure: Non-underwritten SPP following A$1.85B institutional placement
Pricing: 2% discount to 5-day VWAP
Structure: Non-underwritten SPP following A$1.85B institutional placement
Use of Funds: General corporate and working capital
Standout Metric: Follows massive A$1.85B institutional placement
Sun Silver Limited (SS1)
Placement
$30.0M
Market Cap: $157M +1.89% ●
$30.0M
Market Cap: $157M +1.89% ●
Lead Investor: Global institutions
Issue Price: $0.92
Pricing: 14.8% discount to last traded price
Issue Price: $0.92
Pricing: 14.8% discount to last traded price
Use of Funds: Maverick Springs drilling, metallurgy, development studies
Key Metric: Largest pre-production primary silver resource on ASX
Share Purchase Plans & Smaller Rounds
Australian Strategic Materials (ASM)
Oversubscribed SPP
A$11.86M
Market Cap: $131M +5.11% ●
A$11.86M
Market Cap: $131M +5.11% ●
Issue Price: A$0.5647
Pricing: 20% discount to VWAP
Structure: Underwritten SPP
Pricing: 20% discount to VWAP
Structure: Underwritten SPP
Standout Metric: Oversubscribed raising demonstrating strong investor demand
American Rare Earths (ARR)
Placement
A$15.0M
Market Cap: $207M -10.0% ●
A$15.0M
Market Cap: $207M -10.0% ●
Issue Price: A$0.32
Pricing: 18.8% discount to 10-day VWAP
Structure: Institutional placement
Pricing: 18.8% discount to 10-day VWAP
Structure: Institutional placement
Use of Funds: Halleck Creek demonstration plant, drilling, engineering
Key Metric: One of largest rare earths deposits in U.S.
Catalyst Metals (CYL)
Debt Facility
A$100M
Market Cap: $1.28B -1.55% ●
A$100M
Market Cap: $1.28B -1.55% ●
Facility Type: 3-year revolving credit facility
Lead Banks: Westpac, NAB, Societe Generale
Terms: No mandatory hedging, currently undrawn
Lead Banks: Westpac, NAB, Societe Generale
Terms: No mandatory hedging, currently undrawn
Use of Funds: Growth plans, balance sheet enhancement
Management Quote: "This support from tier 1 lenders is an important step for Plutonic"
Zelira Therapeutics (ZLD)
R&D Loan
$650K
Market Cap: $4.9M 0.0% ●
$650K
Market Cap: $4.9M 0.0% ●
Interest Rate: 17%
Security: Secured against R&D tax rebate
Type: Non-dilutive funding
Security: Secured against R&D tax rebate
Type: Non-dilutive funding
Use of Funds: HOPE SPV clinical trial advancement
Standout Metric: Non-dilutive funding secured against tax incentive
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