Special Report: Fintech Ovanti has made a key appointment as it looks to launch its buy-now-pay-later (BNPL) offering in the US and eyes a listing on a US exchange, ideally the tech-focused Nasdaq.
Ovanti Limited (ASX:OVT) has appointed EAS Advisors as its US capital market advisory firm to accelerate growth plans in the US BNPL market, including exploring a suitable US exchange for a listing of OVT’s securities.
EAS is a private, New York-based boutique corporate advisory firm founded in 2008 by Edward Sugar.
The firm provides a range of services to small and mid-cap clients including institutional market engagement, equity and debt raising, M&A and capital markets advisory.
OVT said the EAS business was built on industry knowledge, capital markets insights and access to a deep pool of traditional and alternative sources of capital.
“In addition to exposure to US investors, EAS provides companies with access to local industry contacts to enhance their growth and expansion,” OVT noted.
Since its inception, EAS has participated in over US$6.5 billion of successful transactions.
OVT soared a whopping 225% on October 17 after announcing the appointment of former Zip Co US CFO Simon Keast as its new CEO with a mandate to launch its BNPL offering in the US.
Keast’s appointment ends a global search for OVT to find a new CEO. He has 30 years of experience in financial services, working internationally across Australia, New Zealand and the US.
Keast said EAS’s deep capital market advisory capability would accelerate OVT’s speed to market in establishing its BNPL business in the US.
“Edward and the team’s market-leading insights, access to equity and debt capital markets, and strategic planning support, including deal structuring and M&A, will create new opportunities for OVT growth in the US market,” he said.
As part of its appointment OVT said EAS would “explore a suitable US exchange” for a listing of OVT’s securities, ideally the Nasdaq.
Former ASX-listed BNPL credit provider Sezzle ceased trading and delisted from the ASX on January 12, 2024 after moving to the Nasdaq.
Sezzle’s shares (NASDAQ:SEZL) are up 590% over the past six months.
“We note the path that Sezzle, having previously been ASX listed, has taken to realise maximum value for shareholders by moving their listing to the Nasdaq,” he said.
“As part of EAS’ engagement, the scope of which is wide ranging, they will consider the appropriateness of Ovanti at the appropriate time either seeking to dual-list or follow the trajectory of Sezzle.”
In 2022 tech billionaire Jack Dorsey’s BNPL US operation Block (formerly Square) paid $39 billion for ASX-listed Afterpay, in the biggest corporate takeover of Australian history.
Afterpay continues to operate as a segment of Block Inc, which is dual-listed on both the ASX:SQ2 and the New York Stock Exchange.
This article was developed in collaboration with Ovanti Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。