Watch List Update: 360 Added

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Family Management platform provider Life 360 has been added to the list, and no that’s not a typo, it really is a $4.79 ask.

Looking to raise $145M from the sale of 30M shares, Life 360 “runs on your mobile device to allow you to view your family members on a map, communicate with them, and receive alerts when your loved ones arrive at home, school or work.” It’s not hard to see the appeal of such a platform given the current social climate.

With plans to “disrupt the multi-billion dollar security and insurance industries", most of the funds are planned for global expansion.

We’re yet to locate a prospectus for this one in a our quick glance this morning, have you got a copy?

Next Science comes up with formula for success!

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Biofilm technology provider Next Science has made quite the entrance to the ASX today as shares began moving around 11am.

We were confident this would be a good launch and investors have reaped the rewards with initial prices hitting $1.43 vs the $1 ask.

According to the chairman, “The proceeds from the Offer will be used to expand Next Science’s product development activities, for administration costs and working capital, and to pay for the costs of the Offer.” and given wha the business is working on, we think the future is very bright for this one.

The Scorecard has been updated accordingly.

ReadyTech posts immediate 15%+ gains at open.

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We were ready, the market was ready and ReadyTech Holdings (RDY) was definitely ready as shares began trade at 12pm today.

A provider of People Management software, ReadyTech already had solid financials prior to the IPO, with funds received set to accelerate growth across the board.

The market seems to have confidence in the proposal with prices peaking at $1.80 per share, almost 20% above the ask.

Keep tabs on future progress on the 2019 Scoreboard.

Watch List Update: ReadyTech (RDY) added.

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ReadyTech, claimed as “a leading software as a service (SaaS) provider of mission critical people management systems” has just been added to the watch list, expected go live is April 17 at this stage.

A quick look at the prospectus shows the company has been around for 20yrs and is forecasting “$35.1 million in revenues and $14.6 million in EBITDA on a pro forma basis” for CY19F.

Asking $1.51 per share, there’s obviously some confidence in this being a strong proposition, but as always do your own research. You can take a look at the prospectus here.

Uniti sends strong initial signal at open.

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Fixed wireless broadband provider Uniti Wireless (UWL) created some excitement as it joined the ASX at 11am this morning, but it remains to be seen if initial enthusiasm will carry through to the afternoon and into the future.

Opening at 33 cents, 32% above the IPOs ask of 25 cents, initial sentiment looked good, but prices quickly began to decline and currently sit at just 23 cents with almost 2 million in shares having changed hands.

Uniti propose to use funds from its IPO to acquire the entire issued capital of FuzeNet Pty Ltd, a Retail Service Provider dealing in non-NBN fibre.

A place holder has been added the the 2019 Scorecard, data should begin to flow through on that shortly.