Tiger cub Woodson cornerstones $37m Thorney Technologies raising


Tiger cub Woodson cornerstones $37m Thorney Technologies raising

New York-based investor Woodson Capital Management is poised to emerge as a substantial shareholder on Thorney Technologies’ share register.

Thorney Technologies launched a capital raising on Monday morning.  Jim Rice

The ASX-listed technology investment company launched a $37 million capital raising on Monday morning and Woodson had committed to cornerstone the round.

The offer was split between a $27 million two-tranche placement and a $10 million non-renounceable entitlement offer, and was priced at 35¢ a share, an 18 per cent discount to Thorney Technologies’ most recent unaudited pre-tax NTA.

Launched in 2010 with seed funding from Julian Robertson’s Tiger Management, Woodson manages a global consumer and technology fund out of New York. The firm has been a big backer of buy now, pay later tearaway Afterpay.

Thorney Technologies would use the funds raised in the round to invest in local and overseas tech companies, with a focus on pre-IPO investments. Money was also pegged for working capital.

Bell Potter was lead manager on the deal.


Source link