Megaport launches capital raising

Megaport has undertaken a private placement of 10,500,000 fully paid ordinary shares to investors to raise USD17.85 million, the company said.

The company is undertaking the capital raising to fund the company´s elastic interconnection platforms continued expansion throughout Europe, APAC and North America as well as staffing and marketing costs and general working capital requirements.

Morgans Corporate Limited acted as lead manager and underwriter to the Placement.

Megaport is a provider of elastic interconnection services, enabling customers to connect their network to other services across the Megaport fabric, using services that can be controlled by customers via mobile devices, their computer or the company´s open API.