From announcement;The proceeds from the Placement will be...

From announcement;
The proceeds from the Placement will be utilised to fund a portion of the Cash Consideration. The remaining portion of the Cash Consideration, being approximately US$13M (being approximately A$19M), will be procured via a debt financing to be undertaken by the Company ("Acquisition Financing") so as to minimise shareholder dilution.

The LOC/ factoring;
C. Line of Credit and Manufacturing Arrangements As is very commonly the case with vendors of consumer electronics products, LIFX currently maintains a rotating line of credit (“LoC”) with its manufacturer, Luminous, that performs final assembly and manufacture of LIFX’s existing smart light products. Such lines of credit are typically drawn to a maximum to fund product manufacturing for the holiday (calendar Q4) period, and then are typically paid down to zero by mid-year. As at the date of this announcement, this LoC is drawn down to approximately US$18M. At completion of the LIFX Acquisition, Buddy will, in accordance with the Loan Agreement, pay down the LoC as follows: o an issue of such number of Shares equivalent to US$5M to Luminous (based on the 5-day VWAP of Shares prior to the general meeting to approve the LIFX Acquisition 3); and o a lump sum cash payment equal to 100% of the then-current balance of accounts receivable due LIFX from their retail partners. The remaining balance will be repaid no later than 31 December 2019.

There is about $9m in trade debtors/ accounts receivable