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BRIEF-Omni Market Tide announces capital raising
October 18, 2016 / 10:21 PM / a year ago

BRIEF-Omni Market Tide announces capital raising

Oct 19 (Reuters) - Omni Market Tide Ltd

* acquisition of rightcrowd and capital raise-omt.ax

* agreed pre-acquisition value contribution of omt at 8.18%; rightcrowd at 91.82%

* $35 million capital raising under a prospectus

* consolidation of all omt securities on a 10:1 basis (subject to shareholder approval)

* omt also entered into mandate with morgans corporate (morgans), to act as sole lead manager and underwriter in capital raising

* purchase price for acquisition will be based on pre-money value of at least $85 million

* purchase price will be paid as a mix of cash and shares in omt

* purpose of capital raising to raise funds to grow merged group post transaction,funding cash component of purchase price Source text for Eikon: Further company coverage:

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