Analyst Note
| Alexander Prineas |No-moat Abacus raised AUD 200 million of equity this week, via the issue of 59.2 million new stapled securities to institutional investors, at an offer price of AUD 3.38 per share. The capital raising will be extended to existing retail investors via a security purchase plan, or SPP, enabling the purchase of up to AUD 30,000 Abacus securities at the same price. Abacus can scale back SPP applications should demand exceed AUD 15 million. Further details on the SPP will be provided on or around March 24, 2022.