Count Limited has successfully raised $35.9 million through an institutional placement to partially fund its acquisition of Oracle Group Ltd, while also launching a $5 million Share Purchase Plan for existing shareholders.
- Completed $35.9 million underwritten institutional placement at $1.05 per share
- Placement shares represent a 7.5% discount to last closing price
- Funds to partially finance acquisition of Oracle Group Ltd and related entities
- Directors committed $315,000 in shares under same terms as placement
- Share Purchase Plan launched to raise up to $5 million at same price for eligible shareholders
Strategic Capital Raise Completed
Count Limited (ASX:CUP) has successfully closed a $35.9 million underwritten institutional placement, pricing new shares at $1.05 each. This price reflects a 7.5% discount to the last closing price of $1.135 on 30 March 2026, signalling strong investor appetite despite the modest discount. The placement involved issuing approximately 34.2 million new fully paid ordinary shares to institutional investors, including existing shareholders, underscoring confidence in Count’s strategic direction.
Funding a Transformative Acquisition
The proceeds from the placement will be used to partially fund Count’s planned acquisition of Oracle Group Ltd and its associated entities, collectively referred to as the Oracle Group. This acquisition, subject to regulatory approvals including from the Australian Competition and Consumer Commission (ACCC), is expected to complete in the first half of FY26. Count’s CEO, Hugh Humphrey, highlighted the strategic benefits of the acquisition, expressing optimism about the opportunities it will create for clients and shareholders alike.
Director Participation and Shareholder Offer
In a show of alignment with shareholders, Count’s directors have committed to subscribe for $315,000 worth of new shares on the same terms as the placement, pending shareholder approval. Additionally, Count has launched a Share Purchase Plan (SPP) offering eligible shareholders in Australia and New Zealand the opportunity to purchase up to $30,000 worth of shares at the same $1.05 price. The SPP aims to raise up to $5 million and will be commission and brokerage free, providing a cost-effective way for retail investors to participate in the company’s growth.
Share Trading and Timetable
New shares issued under the placement are expected to settle on 8 April 2026 and commence trading on the ASX on 9 April 2026, ranking equally with existing shares. Shares issued under the SPP will be allotted in early May, with trading expected to commence shortly thereafter. Count has reserved the right to scale the SPP or extend the offer period at its discretion, reflecting a flexible approach to managing shareholder demand.
Looking Ahead
While the acquisition promises to expand Count’s footprint and capabilities in the software and IT services sector, it remains contingent on regulatory approvals and satisfaction of precedent conditions. Investors will be watching closely for updates on the ACCC’s decision and the integration plans post-acquisition. The capital raising positions Count to pursue its growth strategy with renewed financial strength, but also introduces dilution and execution risks that warrant careful monitoring.
Bottom Line?
Count’s successful capital raise sets the stage for a pivotal acquisition, but regulatory hurdles and integration remain key watchpoints.
Questions in the middle?
- Will the ACCC approval process delay or alter the terms of the Oracle Group acquisition?
- How will Count integrate Oracle Group’s operations and realise anticipated synergies?
- What level of shareholder participation will the Share Purchase Plan attract, and how might it impact share liquidity?