Shares of Uniti Group Limited (ASX: UWL) were placed on a trading halt earlier this morning. Subsequently, the company announced that a binding agreement was executed to wholly-acquire 1300 Holdings Pty Ltd (1300 Australia) and its entities, excluding CallN Pty Ltd operating the CallN business.
In addition, the company is undertaking a fully-underwritten share placement to raise $85 million before costs.
- The purchase consideration for acquisition is $78 million, consisting of $58 million in cash and $20 million in UWL shares.
- UWL would raise approx. $43 million from institutional and sophisticated investors, and the Entitlement Offer would seek to raise approximately $42 million, both at $1.62 per share.