Engage:BDR Share Purchase Plan closes today

Written by Megan Graham, edited and authorised by Jonathan Jackson. Published at Jun 6, 2018, in Technology

With the tech small cap having extended the close date for its Share Purchase Plan (SPP) beyond 29 May, eligible shareholders in engage:BDR (ASX:EN1) still have the opportunity to participate in the current SPP until close of business today.

The placement opportunity allows shareholders to subscribe for up to an additional A$15,000 of new ordinary shares in the company at an issue price of A$0.16, subject to scale back in the company's absolute discretion. The SPP is not underwritten.

Via the SPP offer, EN1 aims to raise approximately A$2 million to go towards conducting due diligence on the proposed acquisition of AdCel Inc (announced in May), the cash component of the proposed acquisition price, and other working capital requirements for the company.

The company’s proprietary platform utilises sophisticated technology to buy and sell advertising, making the process a lot faster, more cost efficient and also highly scalable.

EN1 launched its own video-serving platform in 2015, eliminating third-party dependency and dramatically reducing its operating costs. It then entered an era of increased investment in technology, to subsequently become a major player in digital advertising across both programmatic advertising as well as the trend of digital influencer marketing.

The most recent headline-grabbing news from the company was its major deal with new cryptocurrency ivyKoin. ivyKoin is a blockchain-based cryptocurrency designed to facilitate transparent business payments on a global scale (you can read an in-depth article on ivyKoin here). In essence, ivyKoin is designed for business transactions, in particular larger financial transactions requiring extensive verification.

Prior to this news, in January EN1 also launched its influencer marketing platform ‘IconicReach’ at the Sundance Film Festival — the largest independent film festival in the US. The platform, developed by the Los Angeles-based tech play over the last two years, utilises EN1’s proprietary technology to streamline the previously inefficient process of sourcing, transacting, and executing influencer campaigns.

Yet EN1 does remain a speculative investment and investors should take a cautious approach to any investment decision made with regard to this stock.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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