Looks like no capital raise require now, they will get a $5m revolving credit facility from BNZ.
"Black Pearl Group Limited (NZX:BPG) is pleased to announce that it has today entered into a NZ$5 million revolving loan facility with Bank of New Zealand."
"Now, weeks away from reaching NZ$10 million in annual recurring revenue (ARR), we could fund our growth from monthly net cash. However, our aspiration is to achieve true scale, one befitting our market opportunity – after all, there are 33 million SME businesses in the USA."
a bit of a battle
founding shareholders are probably looking to make profits
NZX institutional buyers are probably getting interested
They may have asked BPG and made some offers to buy a decent chunk but BPG said yeah nah
So they may have asked the founding shareholders to buy a decent chunk who said yeah nah
so the only way the price moves is if retail shareholders bid up the price while the founding shareholders sit on their hands
I watched the agm and expected they would do a capital raise shortly.
I held some funds aside for that as I wanted to add to my small holding.
As they are [wisely] using debt to fund growth, I used the funds I set aside to add to my holding at 88 cents.
You'll be surprised that institutions will have actually never touched or even heard of these guys. I remember Pushpay when it was a $500m company was barely on institutions radar except the venture capital funds they raised from when they were a start up. Once BPG comes on their radar this stock will be valued at a premium since its growing its revenues so quick. Anything below a $1 is cheap at this stage especially with no share dilution in sight, good chance we get to $1.50 to $2 in the next 6 months if everyone starts taking notice.
Originally Posted by silverblizzard888
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