NTO -2.81%: returned to trading today after successfully completing a capital raise to fund an acquisition. NTO is raising $140m at $3.43/sh through a placement and a 1 for 11.4 entitlement offer, a 10.7% discount to Tuesday’s close. The money will be put towards a $US81m acquisition of Connective, a European e-signature business. It’s an on message acquisition for Nitro, management have been open about looking to improve capabilities through an acquisition. Connective’s technology is capable of handling far more complex signature needs which will be integrated into their existing product. They have paid up a bit for it though at around 13x Annual Recurring Revenue (ARR), and there will be some work to push the tech across borders but the strategy is positive.
scroll
Question asked
Question asked
Question asked
Question asked
Question asked
Performance update for March, stocks that drove returns & our current positioning
Close
Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
Close
Market Matters Research Lead Shawn Hickman with David Koch
Close
MM is long NTO in the Emerging Companies Portfolio
Add To Hit List
Related Q&A
What are MM’s thoughts towards Nitro Software (NTO)?
Update on 4 emerging company share positions
MM thoughts on WSP, AD8 & NTO
Is it time to take tweak some positions?
Thoughts on Pointsbet & Nitro?
Relevant suggested news and content from the site
Video
WATCH
Performance update for March, stocks that drove returns & our current positioning
Recorded Tuesday 9th April
Podcast
LISTEN
Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
Daily Podcast Direct from the Desk
Video
WATCH
Market Matters Research Lead Shawn Hickman with David Koch
Recorded Monday 25th March
Members only
UNLOCK MARKET MATTERS NOW
Take a free trial.
No payment details required.