News: INT Corporation heads to market

INT Corporation (ASX:INT) has been granted an ASX trading halt in relation to a material capital raising.

The halt will last until the earlier of the announcement being made or the start of trade on Wednesday, 24th June 2015.

In May, the company executed a conditional Merger Agreement to acquire New York based luxury digital marketplace platform AHAlife Holdings via an issue of 2,114,285,715 INT shares and options (pre-Consolidation).

AHAlife’s backers include former CEO of Saks Fifth Avenue, current CEO’s of Rakuten, Net-a-Porter, William Morris Endeavour and VIP Shop, Former Chairman of LVMH North America and US based venture capital firms DCM and FirstMark Capital.

At that time, the company said a capital raising of at least $15 million will be undertaken concurrently with the transaction to fund AHAlife’s sales, marketing and development activities, to extinguish debt and pay transaction expenses and for general working capital.

AHAlife connects consumers with over 2,000 curated luxury designers and artisans across more than 45 countries.

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