Sydney, Australia, 21 June 2023: Jaxsta Limited ACN 106 513 580 (Jaxsta or the Company, ASX: JXT), the world's largest database of official music credits, proudly announces the successful completion of a share placement to sophisticated and professional investors. The demand for the placement was in excess of the funds the Company sought to raise. This offering has generated $3.0 million in gross proceeds (Placement), underscoring the market's confidence in Jaxsta's vision and potential.
The Placement, priced at $0.04 cents per share, represents a 24% discount to the closing price of Jaxsta shares on 13 June 2023. 75,000,000 fully paid ordinary shares will be issued as part of the Placement, leveraging Jaxsta's 15% capacity under ASX Listing Rule 7.1 and its 10% capacity under ASX Listing Rule 7.1A.
Rich lister, Wisetech Founder and CEO, Richard White, has become a substantial shareholder with 9.64% as a result of this placement.
Linda Jenkinson, Jaxsta's Chair, expressed her delight in Richard White's involvement, stating, "We are thrilled to welcome Richard as a cornerstone investor in Jaxsta. His investment and support validate the significant strides we have made and our positive outlook moving forward."
Joining Richard White, Jaxsta's placement received support from Paul Wiltshire, an existing Jaxsta substantial shareholder and Founder/CEO of Songtradr, as well as Ken Gaunt, a long-term shareholder and Jaxsta NED.
The funds raised through this Placement will be dedicated to advancing several key initiatives, including the ongoing rollout and expansion of Vinyl.com, the integration of Vampr and Jaxsta, and AI R&D investment focusing on optimising the customer experience.
Red Leaf Securities led the share placement and Settlement is scheduled for 26 June 2023, with the newly issued shares expected to commence trading on 27 June 2023. These shares will rank equally in all respects with the Company's existing fully paid ordinary shares, ensuring a seamless integration for investors.
For further information contact:
Jane Morgan
jm@janemorganmanagement.com.au
About us:
ABOUT JAXSTA
Jaxsta is the world's only official music credits database. It contains more than 341 million official, deep-linked music credits across 107 million pages, sourced from over 358 data partners, including record labels, publishers and industry associations. Jaxsta's data is mapped to the world's charts and can provide world-first insights including custom repertoire reports to ensure industry organizations can map music ownership and revenue. Jaxsta is a key solution to the music industry's metadata problem.
ABOUT VINYL
VINYL is a record store with a difference. VINYL is a global marketplace where Creators and Music Fans connect and collect. VINYL.com is an online record store that allows you to easily buy your favourite record while allowing you to dig through liner notes as though you’re diggin’ through crates, exploring who did what on each album and more. Our offer to music fans is an extensive catalog of records across all genres, powered by Official Music Credits, verifying every creative contribution on every recording. VINYL will ensure that everyone is recognised - main artists, songwriters, producers, composers, engineers, musicians and all roles. VINYL.com has a clear vision of the experience that should be expected with this iconic url and is expanding beyond selling vinyl records to include merchandise, tickets, digital collectibles and experiences that connect fans with creators.
ABOUT VAMPR
Vampr is the world’s leading music industry social-professional network connecting musicians, creatives and artists so they can collaborate, create new music and monetize their work. Founded by The Music Network’s 30 Under 30 Power Player, Josh Simons, the multi award-winning app recently surpassed a milestone of 1.31 million global users who are active in 190 countries. The company was named by Fast Company in their Most Innovative Companies list in 2022.
Contact details:
Jane Morgan Management
jm@janemorganmanagement.com.au
