Catapult Group International Announces A$25m Equity Raising to Drive Elite and Prosumer Growth

Catapult Group International Limited (ASX:CAT) announced it has launched a fully-underwritten institutional placement of new ordinary shares raising A$25 million at A$1.10 per share, representing a 6.8% discount to the last traded price (‘Placement’).


  • Catapult launches A$25 million offer of new shares at A$1.10 per share
  • Net proceeds will capitalise the business appropriately, enable the execution of Catapult’ssignificant growth opportunities in the Elite and Prosumer markets and deliver long-term growth to shareholders
  • Based on Catapult’s current strategy and supported by its three-year plan, management does not anticipate requiring additional equity funding before becoming cash flow positive
  • Placement is fully underwritten by Goldman Sachs Australia Pty Limited

Following work completed on addressable markets, customer economics, customer product needs and longterm budget requirements, Catapult has decided to raise A$25 million to drive the growth of its core business units. Net proceeds from the Placement will be used as follows:

  • Elite Sales: To fund the hiring of additional sales and marketing FTEs in the Americas, Europe and Asia and to accelerate Catapult’s penetration in those markets;
  • Prosumer: To provide marketing, distribution and working capital to accelerate growth in unit sales following Catapult’s soft launch to the Prosumer soccer market in Q4 FY18;
  • Tactical Analytics: To fund the hire of additional software development FTEs to continue to develop and commercialise the tactical product for Elite teams; and
  • Investment in Elite Technology Stack: To fund integration and additional development costs related to other products in the Catapult technology stack.

Joe Powell, Catapult’s Chief Executive Officer, said “We are excited to announce this transaction which is a major step towards delivering on our long-term strategic plans for the business. The launch of this funding round is the culmination of a significant amount of work undertaken to better understand our addressable market opportunity, customer economics, customer product needs and the capital requirements needed to unlock the significant growth opportunities available to us. We have a high degree of clarity and conviction on what is required to deliver growth over the next few years and this raising provides the funding capacity to execute on our plans.”

 Mark Hall, Catapult’s Chief Financial Officer, said “What has impressed me about Catapult is the clarity of our strategy and the assets and capability we have to continue to pursue what is a large market opportunity. We have done a significant amount of work identifying the investments we need to make to meet our long term strategic goals and how we will execute to achieve them. We are confident this capital is what we need to deliver on our current plans to create a high-growth, positive cash flow generating business over the next few years.”


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s