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News: RBL Redbubble Says Entered Agreement To Acquire TP Apparel & TP Apparel Europe

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    24/10/18
    17:15
    Post #: 36245885

    Oct 24 (Reuters) - Redbubble Ltd (RBL) :

    • ENTERED INTO BINDING AGREEMENT TO ACQUIRE TP APPAREL LLC AND TP APPAREL EUROPE LTD FOR US$41.0 MILLION IN CASH
    • ACQUISITION TO BE FUNDED THROUGH A$24.6 MILLION PRO-RATA NON-RENOUNCEABLE ENTITLEMENT OFFER AND FULLY UNDERWRITTEN A$36.0 MILLION PLACEMENT
    • IN FY19, REDBUBBLE EXPECTS TO ACHIEVE FASTER REVENUE GROWTH RATE AND OPERATING EBITDA / GROSS PROFIT MARGINS AS RESULT OF ACQUISITION
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