LiveHire's strategic funding initiative

LiveHire (ASX:LVH) is offering a 1-for-4.2 non-renounceable pro rata entitlement offer to eligible shareholders, priced at $0.039 per share. The initiative aims to raise approximately $3.54 million before costs, closing on November 14, 2024.

Key details and future outlook

LiveHire's latest entitlement offer is a strategic move to bolster its financial standing, particularly in light of Humanforce's recent takeover bid. Key details include an offer price of $0.039 per share, a closing date of November 14, 2024, and the offer not being underwritten. The initiative is not open to US shareholders and entails risks such as potential dilution for non-participating shareholders and increased control by Humanforce. With Humanforce holding a significant stake and intending to take up its entitlement, their control could increase further. The funds will be utilized for transaction costs, administrative expenses, and loan repayments, aligning with LiveHire's broader strategic objectives. Shareholders are advised to consult professional advisors before deciding to participate.

Executive insights on entitlement offer

The raised funds will cover the interim transaction costs related to Humanforce's recent takeover bid, the costs of the entitlement offer, and general administrative and working capital costs, including repayment of the Lighter Capital Loan Facility.