Aquaint Capital Holdings Limited, which is proposed to be renamed as Schrole Group Limited, has closed its prospectus share offer early and oversubscribed, raising the maximum subscription of $6 million.
Schrole has applied to trade on the ASX under the ticker code of SCL and is expected to relist in the coming weeks.
On relisting, Schrole will have an implied market capitalisation of $11.7 million, based on the $0.02 per share offer price. Alto Capital is the Lead Manager to the offer along with Xcel Capital as Co-Lead.
Schrole is an Australian educational technology company that provides schools with innovative recruitment platforms and consulting service solutions that enable schools to address staffing and recruitment challenges. Schrole’ products are currently being used by 207 international and domestic schools in 32 countries worldwide.
Schrole has three business units: Schrole Connect, an online Software-as-a-Service (SaaS) platform for efficient and effective recruitment of international school teachers; Schrole Cover, a cloud-based SaaS platform for the fast filling of casual staffing positions; and Schrole Develop, a training and consulting organisation that provides Australian-accredited leadership training and strategic consulting services to schools. These business units offer major opportunities for business development in Australia and worldwide.
“We are delighted with closing the offer early and receiving such strong investor support during our Australian and Asian roadshow, resulting in an oversubscribed offer,” said Schrole’s founder and managing director Rob Graham.
“Our software sales have improved year-on-year over the past three years despite having limited cash available and while further developing our products.
With a strong cash balance we are excited and focused on marketing Schrole’s products to drive revenues higher worldwide.”
