US-based technology company Buddy will be in front of investors...

US-based technology company Buddy will be in front of investors from Monday as it seeks to raise up to $10 million for a reverse takeover.
US-based technology company Buddy will be in front of investors from Monday as it seeks to raise up to $10 million for a reverse takeover.
It's understood Buddy will meet potential backers in Hong Kong on Monday, before moving to Sydney, Melbourne and Perth. The roadshow is said to be well covered and will focus on explaining Buddy's data management platform for connected devices.
Buddy is seeking to raise up to $10 million at 10¢ a share and a $2.5 million share purchase plan for existing shareholders in ASX-listed shell, Potash Minerals.
Potash shares are trading at around 15¢. Its average traded price over the past two months is 14¢.
Sequoia Partners' chairman Rick Borenstein is joining Buddy as chairman.
Buddy was the first investment made by Microsoft Ventures. The start-up's Adelaide-born CEO, David McLaunchlan, used to work at the technology giant and remains a technical advisor to the Bill & Melinda Gates Foundation.


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