Afterpay challenger Openpay seeks $30 million
Buy now, pay later fintech Openpay is seeking to make the most of investor interest in the payments sector, tapping the market for $30 million in new equity.
Openpay had stockbroker Shaw and Partners lining up investors on Thursday morning, according to terms sent to fund managers.
Shaw was seeking buyers for up to 12.5 million new shares at $2.40 each which was a 20.5 per cent discount to the last close and a 9 per cent premium to the 5 day VWAP.
Funds raised would be used to accelerate expansion into the UK, expand its B2B opportunities and to beef up its balance sheet, the term sheet said.
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