PKS receives $12 million in firm commitments to drive growth strategy

PKS Holidings

Highlights:

  • PKS receives firm commitments to raise $12 million through strongly supported placement

  • New institutions welcomed to the Company along with continued support from existing investors

  • Funds raised will be used to accelerate research & product development, sales & marketing activities, data science & informatics work as well as automated coding and enhance global sales support

  • Share Purchase Plan to eligible, existing investors to raise an additional $1 million to follow

  • 1H FY2021 Highlights:

    • Total revenue $3.73 million grew by 97% comparing to 1H FY20 actuals

    • ARR of $6.5 million is up by 23% comparing to 1H FY20 on pro forma basis

    • Growth in recurring revenue 21% comparing to 1H FY20 on pro forma basis

    • Operation EBITDA remains strong at 40% ○ Proforma cash on hand post raise is $15 million

The Board of PKS Holdings Limited (ASX: PKS) (“PKS” or the “Company”), an Australian pioneer of advanced data services in healthcare, is pleased to announce that it has received firm commitments for $12 million through an oversubscribed Placement (“Placement”) from new and existing institutional and sophisticated investors of 34,285,716 fully paid ordinary shares (“Shares”) in the Company at $0.35 per share.

The Placement was well supported by new and existing institutional and sophisticated investors with funds to be used to drive strategic growth plans under new CEO, Tim Kelsey.

CEO Tim Kelsey

/Public Release.