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Frontier Digital Ventures Limited (ASX:FDV – Get Rating) insider Anthony Klok purchased 75,000 shares of Frontier Digital Ventures stock in a transaction that occurred on Tuesday, May 3rd. The stock was acquired at an average price of A$1.03 ($0.73) per share, with a total value of A$77,475.00 ($54,559.86). The company has a current ratio of […]
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SYDNEY, Jan. 28, 2021 /PRNewswire/ Australian global data analytics software business Phocas Software announces a AU$45 million (US$34 million) capital raise to accelerate its growth in America and the United Kingdom, expand into new industries and develop its core products.
Ellerston Capital led the capital raise with a AU$35 million (US$27 million) equity investment. OneVentures, an existing shareholder who first invested in the company in 2018, provided an additional AU$10 million (US$7 million) equity financing, reinforcing the venture capital firm s confidence in the company.
Phocas is a cloud-based data analytics Software-as-a-Service (SaaS) company with operations in the US, Australia and the UK. It is a growing, profitable company which should reach circa AU$50million in revenue by July 1, 2021. The business employs 200 people and has more than 1,900 mid-market customers, including Karcher, Burson Automotive, Repco, Henry Schein
The proposal comes nine months into a COVID-19 crisis that has mauled the hospitality industry and pushed many hotel owners to the financial brink. Occupancy at downtown hotels that are still open hasn t been higher than 27 percent for any week since mid-March, according to hotel research firm STR. The prolonged crisis has forced many owners to stop making mortgage payments, raising questions about whether they ll be able to keep control of their properties.
But Kornota and Klok, who developed the Dana Hotel in River North (now known as the Eurostars Magnificent Mile) and have a history of building boutique properties in Chicago neighborhoods, foresee a much rosier picture in the neighborhoods especially by the time they d be able to build and open the new property. Kornota admits, though, that the market may not be back to pre-pandemic levels for another two or three years.