Australian fixed wireless and wholesale network infrastructure carrier Swoop Telecommunications will list on the ASX through a reverse takeover.
Swoop will be acquired by Stemify Ltd in a deal worth $61.3 million, which also includes NodeOne, a Perth-based NBN retail service and fixed wireless provider.
Stemify, listed under the suffix SF1, is a shell company that formerly sold edu-tech products and 3D printers. It had a market capitalisation of $3 million.
Through the listing, Swoop aims to raise $20 million at 50 cents per share, appointing Morgans Corporate Limited as lead manager of the public offer.
The company plans to further expand its infrastructure nationally and fund potential acquisitions to expand its products and offerings.
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