AdNeo Limited (ASX: AD1) Acquires Learnt Global Group and Secures Equity Commitments
Acquisition of Learnt Global Group
AdNeo Limited (ASX: AD1) has entered into a Share Sale and Purchase Agreement to acquire Learnt Global Pty Ltd and its subsidiaries. The all-scrip deal is priced at $0.07 per share, reflecting a 49% premium to the prior 30-day VWAP. The acquisition is valued at $5.8 million and is expected to double AdNeo’s annual revenue to approximately $11 million.
Equity Placement and Debt Conversion
AdNeo has received material commitments of $1.5 million from Salter Brothers Asset Management as part of an equity placement to fund the acquisition. Additionally, Pure Asset Management Pty Ltd has agreed to convert $1.5 million of debt into 21,428,571 ordinary shares at the same deal price of $0.07 per share, reducing AdNeo’s debt position by 57%.
Board Appointments
The company has appointed two new Independent Board members, Kevin Lynch and Ian Basser, bringing significant experience in technology and M&A. These appointments strengthen AdNeo’s governance and support its growth strategy.
Executive Comments
CEO Angus Washington stated, “I can attest to the Board’s excitement and conviction that this is a truly transformative acquisition for our business and shareholders, as the Learnt Global products complete and complement the AdNeo offering to become the leading solution provider to support the Workforce Transformation in the AI-era.”
Chairman Nicholas Smedley commented, “As Chairman of AdNeo, I am pleased to see our CEO Angus Washington quickly executing our strategy to acquire visionary businesses shaping tomorrow. The Learnt business presents a valuable opportunity for our shareholders to acquire strategic products, achieve cost and sales synergies, and double our business revenues.”
Motley Fool contributor ..... has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.
