Well, part of the funds raise are earmarked to... uh... "pay the costs associated with undertaking the placement" (their words, not mine)
But your question is valid. What is the $70m for?
Reading through the presentation and the accompanying announcement, it had a decided feel like part of the reason that they are raising the capital is, well, because they can.
Ann: Nearmap successfully completes $70 million capital raising, page-54
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