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engage:BDR receives strong support for SPP; exceeds $1 million target

The company will use the funds raised from the placement and the SPP to drive growth in CTV (Connected TV) Advertising and for working capital.

engage:BDR Ltd -
The company’s strategic goal for the remainder of the year is to continue to scale revenues and profitability.

engage:BDR Ltd (ASX:EN1) has closed its share purchase plan (SPP) on Monday, December 7, after receiving strong support with applications exceeding the target of $1 million.

Although the SPP offer was originally intended to close at $1 million, the company has determined that it will accept and issue shares in response to all applications received on the closing day, resulting in the EN1 accepting SPP application funds totalling more than $1 million.

This decision was made due to the inability to determine the order in which BPay amounts are transferred and received within a banking day and in fairness to all applicants whose funds were received on December 7, 2020

Final value to be finalised shortly

The final value of application funds received as well as the number of shares to be issued, will be finalised and announced shortly.

Successful applicants’ shares are scheduled to be issued in the next few days.

In accordance with the terms contained in the SPP booklet sent to eligible shareholders on December 1, application payments received after the closure will be refunded in full.

Driving growth

Funds raised from the placement and SPP will be utilised to drive growth in CTV (Connected TV) Advertising and working capital.

The company recently signed five new programmatic customers – ad buyers LoopMe, Sonobi and AdMixer; programmatic publisher VRTCALL and video streaming platform TikiLIVE TV - with the new integrations on-track to be live by the end of this month.

Through integrations (openRTB) into EN1’s programmatic ad exchange, LoopMe, Sonobi, Admixer and VRTCAL will buy and sell mobile apps and connected TV (CTV) advertising inventory.

Quick facts: engage:BDR Ltd

Price: 0.005 AUD

ASX:EN1
Market: ASX
Market Cap: $12.24 m
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