Trade window ipo launch

[Dlownz]

I haven't seen this in the threads so hopefully not a double up.
Herald Premium link.
Be interesting to see the prospectus when it's released
TradeWindow raises $15m from ASB, Anna Mowbray ahead of NZX listing
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12473774

[ananda77]

Thanks for posting this. Will ne keeping eyes open on this one

[maclir]

I haven't seen this in the threads so hopefully not a double up.
Herald Premium link.
Be interesting to see the prospectus when it's released
TradeWindow raises $15m from ASB, Anna Mowbray ahead of NZX listing
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12473774

You may be disappointed, there will be no full prospectus, as they are not looking to raise cash with the listing.

[Sideshow Bob]

Actually got an email from them today, which had binned, until came across this thread. Here is the link to the newsletter:

https://f.hubspotusercontent40.net/hubfs/6875894/The%20Window%20-%20Issue%202.pdf?utm_campaign=The%20Window%20Newsl etter&utm_medium=email&_hsmi=162627142&_hsenc=p2ANqtz-_uIz56a6nVIJR2Uqh44bNQqhfv_iW8BTHanm8H-CYdOYBTzQt6K5zBtIWEeLRD-__tlSCzYHJECbgwZbieXf5fpOXzLA&utm_content=162627142&utm_source=hs_email

[Panda-NZ-]

Amazon to spend $7.5b on data centres in New Zealand.

https://www.rnz.co.nz/news/business/452117/amazon-web-services-to-spend-7-point-5-billion-on-giant-data-centres-in-auckland (https://www.rnz.co.nz/news/business/452117/amazon-web-services-to-spend-7-point-5-billion-on-giant-data-centres-in-auckland)

[kiora]

Amazon to spend $7.5b on data centres in New Zealand.

https://www.rnz.co.nz/news/business/452117/amazon-web-services-to-spend-7-point-5-billion-on-giant-data-centres-in-auckland (https://www.rnz.co.nz/news/business/452117/amazon-web-services-to-spend-7-point-5-billion-on-giant-data-centres-in-auckland)

Better not stop shipping that coal then?

[Benny1]

Is there a reason why most of the latest company floats are compliance issues?
Is it just cheaper and easier?
Why don't they take the opportunity to raise some more money while they are going to the trouble of listing on the market?

[Panda-NZ-]

Better not stop shipping that coal then?

Tiwai is due to leave soon.

Better have it here than america or (even worse) Australia.
https://en.wikipedia.org/wiki/Electricity_sector_in_Australia

[kiora]

Tiwai is due to leave soon.

Better have it here than america or (even worse) Australia.
https://en.wikipedia.org/wiki/Electricity_sector_in_Australia

So the data center should be built in Bluff then?

[Panda-NZ-]

Well you probably want 0ms latency, rather than >10ms.

[Snow Leopard]

So...

Listed from Monday 22nd November.

Must read up on them.

[winner69]

Off to a flying start

Somebody noted Phil Norman was a director and asked good or bad?

[percy]

Off to a flying start

Somebody noted Phil Norman was a director and asked good or bad?

The huge ongoing loses scared me off.

[Pegasus2000]

https://justlifegroup.co.nz/phil-norman-independent-director/


Recently appointed Chairman of the JLG board, Phil Norman is a professional director and business advisor providing investment banking, strategy and governance services for growth companies.
Phil’s career has included management, ownership and governance roles in many local and international businesses.
Phil was the founding Chairman of Xero Limited, arguably New Zealand’s most successful publicly listed technology company, spending five years on the board before retiring in 2012.
His current director roles include Chairman of NZX-listed Plexure Group Limited, a mobile marketing and data analytics software company; Chairman of Straker Translations Limited, an ASX-listed high-growth translation company; Independent Chairman of Loyalty New Zealand Limited, New Zealand’s largest loyalty company and operator of the Fly Buys programme; Chairman of Touchpoint Group Limited, a marketing and AI data analytics software business; and Chairman of Parallo Limited, a specialist Microsoft Azure and VMWare services business that delivers cloud consulting, implementation, support and managed services in New Zealand and Australia.
Phil is a past Chairman of the New Zealand Private Equity and Venture Capital Association and for six years was a member of New Zealand Trade and Enterprise’s New Zealand Beachheads Advisory Board.

[Balance]

Off to a flying start

Somebody noted Phil Norman was a director and asked good or bad?

Phil Norman of Plexure fame - pass.

[Benny1]

The huge ongoing loses scared me off.

Yeah I had a quick look as I sort of like the space they are in..but didn't like the first skin of the financials!
So I will pass.

[Joshuatree]

Any exporters etc here that are using trade window? Love to hear your experience with trade window.

It sounds like a super efficient , speedy timesaving way of moving your stuff through the global supply train redtape jungle using blockchain. Huge scalability potential here. A bit like Xero in its early days with years of losses

Investor Presentation (https://www.nzx.com/announcements/383217)

[Sideshow Bob]

Real postential will be if scable overseas.

I see they have offices in Australia and Singapore currently.

[whatsup]

85% gain on todays first listing day.

[tango]

Phil Norman of Plexure fame - pass.

Exactly

I believe the software is good but I will never buy a company that has Phil on the board.

[Joshuatree]

85% gain on todays first listing day.

Wow.Ok who were the smart ones who bought? Must be some.

[silverblizzard888]

Wow.Ok who were the smart ones who bought? Must be some.

I sure did, reminds me of pushpay when it first listed, took me a year before I caught on what a innovative company it was. Now I wasn't going to let this happen to me twice!!!

[pg0220]

Also reminds me of Paysauce. But this horse seems to have been equipped the almighty blockchain so who knows.

[silverblizzard888]

Also reminds me of Paysauce. But this horse seems to have been equipped the almighty blockchain so who knows.

I saw Paysauces numbers from the start and they never stacked up, their numbers still don't, never got the hype out of that company but just my opinion anyway. Trade Window is another breed where the numbers could looks pretty amazing after 2-3 years.

[porkandpuha]

Any exporters etc here that are using trade window? Love to hear your experience with trade window.

It sounds like a super efficient , speedy timesaving way of moving your stuff through the global supply train redtape jungle using blockchain. Huge scalability potential here. A bit like Xero in its early days with years of losses

Investor Presentation (https://www.nzx.com/announcements/383217)

I use them, and also worked with the service providers they have since taken over. They are every bit as efficient as they say they are, to the point we didn't need to replace a staff member who left our team due to the streamlined automated processes TW provided. Financials don't look too flash but I have seen the growth to date and if they can continue that trend it looks quite intriguing. I wouldn't have thought their MOAT was very strong though, and companies like Wisetech on the ASX already have such a stranglehold on the global cargo software market. Watching with interest..

[Pegasus2000]

Back to the start. Anyone wants to jump in?

[porkandpuha]

Back to the start. Anyone wants to jump in?

I am in with a small amount. International trade documentation is more complex than ever right now and businesses are always looking for ways to make it easier and faster. They provide that service and more.

[Joshuatree]

Thanks p &p,appreciate your sharing first hand and that low moat and competitors are risks especially at this valuation.Wisetech a it beast. Be int in any strong points of diff TW have.Am watching for a small poss initial entry.

[porkandpuha]

Bit quiet in here considering that TWL was the biggest gainer the past 2 days. Not popular with the STers perhaps?

[rmnz]

I bought in at the start and am very happily holding, would have been in for a much lower price if ASB Securities had got their bums into gear rather than messing me about but still happy with the price I paid overall. I do think they have some careful decisions to make about competitors (Wisetech as previously mentioned) but also some of the innovators in the crypto space. I see this one as being a moderate risk with large potential upside so happy holder.

[winner69]

Share price going gangbusters last few days

Suppose the sky is the limit for TWL

Bit of punting money not going astray

[porkandpuha]

Share price going gangbusters last few days

Suppose the sky is the limit for TWL

Bit of punting money not going astray

There was a large quantity of small parcel bids which looked like sharesies size parcels, buying into large quantity sells. A similar thing happened back when Cannasouth was going off last year - the "market" buy couldn't keep up with the quantity on offer and the price shot north.

That bid/offer imbalance seemed to even out around 11am today with TWL so I took some off the table for now.

[Sideshow Bob]

FY22 Results Announcement - 30 May 2022 - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/392891)

Total income $4.9m, up 108%
 Trading revenue $3.9m, up 136% from $1.6m in FY21 (up $0.5m or 32% excluding acquisitions)
 Gross margin 50%, up from 36%
 Total operating expenses $14.4m, up 76%
 EBITDA loss increased to $9.5m, up 63%
 Net loss after tax $10.8m, up 64%
 Cash and cash equivalents $5.9m, up from $1.4m

[Pegasus2000]

Apparently The Market is not happy with the result. Down to 1.18.

[Rawz]

these loss making companies trading on high sales multiples no good in this bear market

[Pegasus2000]

Yes. Too early to see the trend and a bit worry about the competitor as well.

[winner69]

Not loved at moment - even more so post result announcement

Punters waiting for the impending capital raise .... prob heavily discounted

Whatever 90 cents is long way from $2.40 or thereabouts

[Pegasus2000]

Thanks Winner. How is the price of capital raise based normally? Will they try to pump up the price before the raise?

[Sideshow Bob]

$10m Capital Raise

TradeWindow announces capital raising of up to $10m - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/395198)

[Nor]

"About TradeWindow:
Founded in December 2018, TradeWindow is an early-stage software company that provides digital solutions for exporters, importers, freight forwarders, and customs brokers to drive productivity, increase connectivity, and enhance visibility. TradeWindow’s software solutions integrate to form a cohesive digital trade platform that enables customers to more efficiently run their back-end operations, share information and securely collaborate with a global supply chain made up of customers, ports, terminals, shipping lines, banks, insurance companies, and government authorities."

But what would be one concrete, detailed example of just one aspect of all this. (For the ignorant).?

[porkandpuha]

"About TradeWindow:
Founded in December 2018, TradeWindow is an early-stage software company that provides digital solutions for exporters, importers, freight forwarders, and customs brokers to drive productivity, increase connectivity, and enhance visibility. TradeWindow’s software solutions integrate to form a cohesive digital trade platform that enables customers to more efficiently run their back-end operations, share information and securely collaborate with a global supply chain made up of customers, ports, terminals, shipping lines, banks, insurance companies, and government authorities."

But what would be one concrete, detailed example of just one aspect of all this. (For the ignorant).?

My post #25 from the previous page might help with this? The data entry time saved by anyone using their tech is outstanding. And their system links in to many systems used by both NZ and overseas authorities to help streamline the shipping doc process which moves more and more paperless every day.

Disc: Heavy daily user of their system but no longer a shareholder (cashed up when the share price ran away on itself)

[Nor]

Not much unless you spell out what this redundant person did.
Sounds a bit like Yojee in Australia. Another mystery

[Pegasus2000]

Andrew John Balgarnie (as Senior Manager) bought 35,715 (NZ$25,000.50 (being NZ$0.70 per share)) on 21/07/2022.

[mwri]

Resignation of chief operating officer

https://www.nzx.com/announcements/396635?fbclid=IwAR2Ng_MHKy4290Bwi_op60YaCHQon9laH8 V-_gH2aOEkRqGTQ6PTPf8duSQ

[whatsup]

Anyone with comments after this years AGM, I see the continues drop in S P !

[Sideshow Bob]

HY Result announcement

https://www.nzx.com/announcements/402496

[winner69]

HY Result announcement

https://www.nzx.com/announcements/402496

Suppose it’s UP but I reckon when losses get higher companies should use words like WORSE (or even ‘greater’) …UP has positive connotations …or if they insist on using UP at least say the loss of $7.1m, UP 18% from $4.8m

Net loss after tax $7.1 million, up 18% ….was what they said

Whatever …it’s WORSE than last year

[winner69]

Seems F23 guidance is a DOWNGRADE as well

[Balance]

Suppose it’s UP but I reckon when losses get higher companies should use words like WORSE (or even ‘greater’) …UP has positive connotations …or if they insist on using UP at least say the loss of $7.1m, UP 18% from $4.8m

Net loss after tax $7.1 million, up 18% ….was what they said

Whatever …it’s WORSE than last year


Phil Norman of Plexure fame - pass.

Best to stay clear - especially when a company is raising capital at ever lower share prices.

[winner69]

A few ‘however’s in the announcement so F23 going to be a disappointment

No worries …F24 and F25 goingbto be boomers

“ TradeWindow expects revenue guidance to be approximately $10.4 million for FY2024 and approximately $20.2 million for FY2025. TradeWindow is targeting monthly EBITDA breakeven by the end of FY2025.”

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/405277/386949.pdf

[winner69]

Pretty sad looking chart

[winner69]

BusinessDesk says TWL needs a lot new cash

New investor a possibility


Trade Window needs new capital, fast


https://businessdesk.co.nz/article/markets/trade-window-needs-capital-fast
Prob paywalled …but you get the gist

[Sideshow Bob]

Prob paywalled …but you get the gist

I think the headline says it all......

[Sideshow Bob]

https://www.nzx.com/announcements/405385

Auckland, NZ – 17 January 2023 Trade Window Holdings Ltd (TradeWindow) today announced its intention to raise up to NZ$20 million via a non-underwritten capital raising ("Share Offer") to drive growth, scale and profitability. The offer price is 45 cents per share, a 10% discount on yesterday’s market close.

TradeWindow Chair Alasdair MacLeod said: “This capital raising is essential for TradeWindow’s ongoing growth and success. The need for a capital raising has been signalled to the market in recent months and we have received indications of support from key existing shareholders.

“The proceeds will be used to build the global trade platform, and drive organic growth and a path to profitability.

“TradeWindow has demonstrated a strong track record of growth, operational efficiency and strategic progress. Despite significant addressable markets, there is a limited window for TradeWindow to scale and take advantage of the opportunities available. We continue to see strong customer demand for our solutions and based on current revenue projections and expenditure, and subject to achieving a successful capital raise, our intention is to achieve EBITDA breakeven by the end of FY25.”

The Share Offer is open to both existing shareholders in TradeWindow and new investors, in each case who are resident in New Zealand, and to wholesale investors in Australia, the Territory of the Wallis and Futuna Islands, Hong Kong, Singapore and certain other jurisdictions, in each case in private share offers that are exempt from local prospectus or registration requirements.

TradeWindow is an early-stage growth company and has previously advised that further investment would be necessary to achieve its goals. In July, TradeWindow successfully raised NZ$10 million from shareholders to drive organic growth in New Zealand and Australia, continue development of the global trade platform and accelerate global expansion opportunities, including the acquisition of Rfider. At TradeWindow’s half-year results on 17 November, notable progress on each of these areas was outlined.
Share Offer details

The new shares issued pursuant to the Share Offer to rank equally with existing TradeWindow shares on issue. The Share Offer will be open for acceptance from 17 January 2023 to 17 February 2023. The Share Offer website will be available from approximately 2pm today (NZST).

Shareholder approval is being sought for the Share Offer, with a meeting of TradeWindow shareholders to be held virtually on 31 January 2023 to approve the Share Offer. Accompanying this announcement is a notice of special meeting of shareholders.
The directors of TradeWindow have unanimously recommended that shareholders vote in favour of the resolution to approve the Share Offer.

There is no minimum amount of proceeds sought under the Share Offer – TradeWindow reserves the discretion to accept subscriptions for less than the targeted amount.

To the extent that applications are received under the Share Offer in excess of the total amount to be raised, those applications will be subject to scaling at the discretion of TradeWindow.

Shareholder meeting

Shareholder approval of the Share Offer is required because TradeWindow will potentially be issuing shares in excess of the 15% placement capacity available to it under the NZX Listing Rules.

A meeting of shareholders will be held virtually on 31 January 2023 to approve the Share Offer. If this approval is not received, the Share Offer will proceed but the maximum proceeds to be raised under the Share Offer will be limited to approximately NZ$6.8 million. Failure to receive shareholder approval will also limit TradeWindow's ability to raise further capital without shareholder approval in the ensuing 12 months.

Timetable

DATE AND EVENT
17 January 2023: Share Offer opens
31 January 2023: TradeWindow Special Meeting
17 February 2023: Share Offer closes (last day for Applications)
20 February 2023: Announce results of Share Offer
Approximately 23 February 2023: Settlement and Allotment of New Shares under the Share Offer on the NZX Main Board
Approximately 27 February 2023: Share Offer confirmation despatched to participating Investors
The dates are subject to change and are indicative only. TradeWindow reserves the right to alter the key dates, subject to applicable laws and NZX Listing Rules.

Further information

For further information in respect of the Share Offer, please refer to the presentation attached to this announcement.
TradeWindow will host an investor conference call this morning at 10am NZST to discuss the Offer. Please register using the link below:

https://s1.c-conf.com/diamondpass/10028180-gdter5.html

Please note that registered participants will receive their dial-in number upon registration.
Once registered you will receive a calendar invite with further instructions. Should you register during the conference call, you will be directed straight to the presentation.

[winner69]

That's a huge raise - $20m for a $60m market cap company .... good luck I say

No doubt hoping for a few new investors to throw in a pile of cash into the begging pole .... leaving current shareholders heavily diluted I reckon - 42m new shares v 100 m on issue

[whatsup]

https://www.nzx.com/announcements/405385

Auckland, NZ – 17 January 2023 Trade Window Holdings Ltd (TradeWindow) today announced its intention to raise up to NZ$20 million via a non-underwritten capital raising ("Share Offer") to drive growth, scale and profitability. The offer price is 45 cents per share, a 10% discount on yesterday’s market close.

TradeWindow Chair Alasdair MacLeod said: “This capital raising is essential for TradeWindow’s ongoing growth and success. The need for a capital raising has been signalled to the market in recent months and we have received indications of support from key existing shareholders.

“The proceeds will be used to build the global trade platform, and drive organic growth and a path to profitability.

“TradeWindow has demonstrated a strong track record of growth, operational efficiency and strategic progress. Despite significant addressable markets, there is a limited window for TradeWindow to scale and take advantage of the opportunities available. We continue to see strong customer demand for our solutions and based on current revenue projections and expenditure, and subject to achieving a successful capital raise, our intention is to achieve EBITDA breakeven by the end of FY25.”

The Share Offer is open to both existing shareholders in TradeWindow and new investors, in each case who are resident in New Zealand, and to wholesale investors in Australia, the Territory of the Wallis and Futuna Islands, Hong Kong, Singapore and certain other jurisdictions, in each case in private share offers that are exempt from local prospectus or registration requirements.

TradeWindow is an early-stage growth company and has previously advised that further investment would be necessary to achieve its goals. In July, TradeWindow successfully raised NZ$10 million from shareholders to drive organic growth in New Zealand and Australia, continue development of the global trade platform and accelerate global expansion opportunities, including the acquisition of Rfider. At TradeWindow’s half-year results on 17 November, notable progress on each of these areas was outlined.
Share Offer details

The new shares issued pursuant to the Share Offer to rank equally with existing TradeWindow shares on issue. The Share Offer will be open for acceptance from 17 January 2023 to 17 February 2023. The Share Offer website will be available from approximately 2pm today (NZST).

Shareholder approval is being sought for the Share Offer, with a meeting of TradeWindow shareholders to be held virtually on 31 January 2023 to approve the Share Offer. Accompanying this announcement is a notice of special meeting of shareholders.
The directors of TradeWindow have unanimously recommended that shareholders vote in favour of the resolution to approve the Share Offer.

There is no minimum amount of proceeds sought under the Share Offer – TradeWindow reserves the discretion to accept subscriptions for less than the targeted amount.

To the extent that applications are received under the Share Offer in excess of the total amount to be raised, those applications will be subject to scaling at the discretion of TradeWindow.

Shareholder meeting

Shareholder approval of the Share Offer is required because TradeWindow will potentially be issuing shares in excess of the 15% placement capacity available to it under the NZX Listing Rules.

A meeting of shareholders will be held virtually on 31 January 2023 to approve the Share Offer. If this approval is not received, the Share Offer will proceed but the maximum proceeds to be raised under the Share Offer will be limited to approximately NZ$6.8 million. Failure to receive shareholder approval will also limit TradeWindow's ability to raise further capital without shareholder approval in the ensuing 12 months.

Timetable

DATE AND EVENT
17 January 2023: Share Offer opens
31 January 2023: TradeWindow Special Meeting
17 February 2023: Share Offer closes (last day for Applications)
20 February 2023: Announce results of Share Offer
Approximately 23 February 2023: Settlement and Allotment of New Shares under the Share Offer on the NZX Main Board
Approximately 27 February 2023: Share Offer confirmation despatched to participating Investors
The dates are subject to change and are indicative only. TradeWindow reserves the right to alter the key dates, subject to applicable laws and NZX Listing Rules.

Further information

For further information in respect of the Share Offer, please refer to the presentation attached to this announcement.
TradeWindow will host an investor conference call this morning at 10am NZST to discuss the Offer. Please register using the link below:

https://s1.c-conf.com/diamondpass/10028180-gdter5.html

Please note that registered participants will receive their dial-in number upon registration.
Once registered you will receive a calendar invite with further instructions. Should you register during the conference call, you will be directed straight to the presentation.

That is one hell of a C R, $20 mil on top of last years $10 mil and Im picking that the S hers who enjoyed the $2.70 float followed by the top price of $2.80 will not be impressed with this announcement.

[Rawz]

Rough. SP since listing looks like HMY but at least HMY hasnt had to raise heaps of capital.

[Rawz]

this could be worth investing in. Like in 5-7 years time. One to watch

[whatsup]

this could be worth investing in. Like in 5-7 years time. One to watch

will it survive that long !!

[Sideshow Bob]

https://businessdesk.co.nz/article/primary-sector/tradewindow-signs-deal-with-silver-fern-farms?utm_source=7am+Headlines+from+BusinessDesk&utm_campaign=d46d00c83b-7am+Headlines&utm_medium=email&utm_term=0_617c2ef34a-d46d00c83b-402467359

TradeWindow says Silver Fern Farms will become one of its “largest customers by revenue” after signing an agreement to provide the meat company with its Cube product.In a statement, the export software provider's chief executive, AJ Smith, said the scope of the agreement meant that long-standing customer Silver Fern Farms will be one of TradeWindow’s largest customers by revenue.

[whatsup]

So who logged on to the todays meeting and will pony up with the .45 now that the market wants .43 !!

[Pegasus2000]

TradeWindow announces capital raising results
TWL
27/02/2023 08:30
OFFER
NOT PRICE SENSITIVE
REL: 0830 HRS Trade Window Holdings Limited

OFFER: TWL: TradeWindow announces capital raising results

MEDIA RELEASE

TradeWindow announces capital raising results

Auckland, NZ - 27 February 2023

Trade Window Holdings Ltd (NZX: TWL)("TradeWindow") today announced it has
secured $5.4 million under its non-underwritten capital raising ("Share
Offer"), which targeted proceeds of up to $20 million. Key investors
supported the Share Offer.

TradeWindow Chair Alasdair MacLeod said: "While the offer has fallen short of
its target, we are pleased with the commitment from key shareholders. We
remain engaged with potential strategic investors to provide growth capital
outside of the formal offer process and we are exploring alternative funding
sources."

"In this challenging capital market we will reduce cash usage to a more
sustainable level by re-prioritsing R&D investments and identifying cost
efficiencies - without impacting our ability to continue to service our
customers, meet market demand, and generate revenue from existing solutions."

"The reduction in capital requirements will impact the speed at which we can
consolidate existing solutions into the global trade platform. TradeWindow
remains committed to this strategy and to achieving profitability. We will
release revised financial projections following the conclusion of funding
plans."

"TradeWindow has an impressive customer base, including some of the world's
largest agriculture exporters. Demand for TradeWindow's solutions remains
strong and the business has a healthy sales pipeline of high-value prospects
across New Zealand, Australia, Philippines and USA."

FY23 guidance remains in place as updated on 13 January 2023 with trading
revenue expected to be approximately $4.8 million to $5.1 million and total
income to be approximately $5.5 million to $5.8 million.

Settlement and allotment of the new shares subscribed under the Share Offer
is expected to occur on 2 March 2023. The new shares will be issued on 6
March 2023 at the issue price of 45 cents (being a 10% discount to the
closing price the day prior to the launch of the Share Offer) and will rank
equally in all respects with TradeWindow's existing ordinary shares.

ENDS

Released for and on behalf of TradeWindow by:
Deidre Campbell
Chief Financial Officer

[nztx]

Sounds like the Cap Raise went well :)

A cool ski slope here on the 2yr graph:

https://www.nzx.com/instruments/TWL

The kind of slope that Champions are made on ..

[Sideshow Bob]

Up to 1/3 the staff to go....

https://www.nzx.com/announcements/408330

[winner69]

Up to 1/3 the staff to go....

https://www.nzx.com/announcements/408330


Hope they find a ‘strategic investor’ that bails them out else I think it’s curtains for them

Suppose heavy dilution for existing shareholders on the cards sometime.

[Sideshow Bob]

Hope they find a ‘strategic investor’ that bails them out else I think it’s curtains for them

Suppose heavy dilution for existing shareholders on the cards sometime.

Here you go W69....

https://www.nzx.com/announcements/409261

TradeWindow announces heads of agreement

with nChain for $11.1m strategic investment

• $11.1m investment would include a combination of $2.4 million cash, and product and services to the value of $8.7 million.
• Complementary partnership would deliver TradeWindow additional expertise, intellectual property and access to new markets.
• nChain to become 19.99% holder in TradeWindow by way of ordinary shares and at an issue price of $0.3952 per share.
• Agreement subject to shareholder approval.

TradeWindow Holdings Limited (NZX:TWL) today announced it has entered into a heads of agreement with nChain for a $11.1 million investment into TradeWindow.

nChain is a world leader in Web3 and enterprise blockchain technology and the developer of the BSV Protocol.

The $11.1m investment will see nChain provide TradeWindow with:

• A cash payment of $2.4 million
• Software engineering resources from nChain’s 200-strong global engineering team to the value of $3.9 million
• Licensed technology and intellectual property to the value of $4.8 million

[winner69]

Think this is another revenue downgrade

https://www.nzx.com/announcements/409493

[billkiapi]

I'm a bit surprised anyone would buy critical process software or solutions if there's a chance they won't be around to support it?

[Sideshow Bob]

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/412216/395467.pdf

Key highlights include:

• Trading revenue $4.9 million, up 27%
• Annual recurring revenue2 $5.2 million, up 39%
• Total income3 $5.7 million, up 18%• Gross margin 46%, down 4ppt
• Total operating expenses $17.4 million, up 21%
• EBITDA loss $11.7 million, up 22%
• Net loss after tax $9.8 million, down 10%
• Cash and cash equivalents $6.1 million

[Pegasus2000]

Revenue is up 27% as the cost is up 21%. They are building Philippine team(IT development?) to cut cost.

[billkiapi]

I wonder how much of this is fees accretion from the old customers they acquired, and how much is organic growth?

[Pegasus2000]

Dr Guy Kloss (http://www.sharechat.co.nz/article/1bcff333/twl-reshapes-leadership-team-for-growth.html) sold most of TWL shares.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/413659/397145.pdf

[silverblizzard888]

Dr Guy Kloss (http://www.sharechat.co.nz/article/1bcff333/twl-reshapes-leadership-team-for-growth.html) sold most of TWL shares.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/413659/397145.pdf

New CTO must be selling out before next capital raising!

[Pegasus2000]

Good to know. Thanks!

[corpr8raider]

Dr Guy Kloss (http://www.sharechat.co.nz/article/1bcff333/twl-reshapes-leadership-team-for-growth.html) sold most of TWL shares.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/413659/397145.pdf

He probably just wants to get paid.

Senior Leadership took options in exchange for a salary reduction due to the restructuring implemented as a cost-saving measure for the Company, according to this notice:
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/412515/395836.pdf

[Sideshow Bob]

https://www.nzx.com/announcements/415224

TradeWindow and nChain conclude strategic agreement

TradeWindow (NZX: TWL), the global trade software business, today announces it has concluded a strategic agreement that will see UK headquartered technology company nChain take a 19.99% stake for an $11.1 million investment.

The agreement, which is subject to shareholder approval, follows on from a heads of agreement signed on 31 March 2023. In line with that agreement, nChain will subscribe to ~28 million new TradeWindow ordinary shares at a price of $0.3952 per share.

The nChain investment will be comprised of:

• an upfront cash payment of $2.4 million;
• the provision of an overarching architectural framework to create a global trade platform for the services provided under the agreement, valued at $2 million;
• the provision of nChain's suite of software products for the term of the agreement, valued at $2.7 million; and
• the provision of software development services valued at $4 million to deliver TradeWindow’s global trade platform project over the next 24 months. The 10 million shares associated with this portion of the agreement will be held in escrow and progressively released to nChain pending the completion of each work package.
nChain will also become the exclusive distribution partner for TradeWindow’s solutions across the UK and Scandinavia, and a non-exclusive distribution partner elsewhere.

TradeWindow will release details of the planned special meeting to approve the issue of shares to nChain, including additional background and deal details, shortly.
Released for and on behalf of TradeWindow by:

Deidre Campbell

[Sideshow Bob]

Market Update - http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/416737/400860.pdf

[winner69]

NChain deal not working out well

Bit of a bugger


http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/419203/404190.pdf

[whatsup]

NChain deal not working out well

Bit of a bugger


http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/419203/404190.pdf

Where to from here, will another entity/opportunity come forward ?

[Sideshow Bob]

Not read it......

Investor Update - http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TWL/420508/405771.pdf

[whatsup]

Very interesting heads up in the N Z Herald, lots of fun and games with this one, intriguing to say the least !

[Sideshow Bob]

https://www.nzx.com/announcements/420906

Yesterday a director resignation, today a trading update with a reorganisation cutting staff, and lowering revenue forecasts.......

[winner69]

Seems to hanging on by the skin of their teeth ….while remaining extremely upbeat

[silverblizzard888]

Thats a big reorganization to reduce cost by over 50%, if they can do that and be breakeven on a month to month basis then might be worth a second look, until then its going the way of Wynyard with cost being way to high and revenue growth way to slow and lumpy to make a big enough difference.

[Sideshow Bob]

https://www.nzx.com/announcements/421406

TradeWindow lender waives covenant

TradeWindow (NZX: TWL), the global trade software business, today announces its lender ASB Bank has extended the interim waiver on a lending covenant breached because of the nChain deal being delayed.

TradeWindow and ASB Bank are working together to restructure the $1.1m debt facility to support the long-term stability of the business. Pending the achievement of conditions met by 30 November, the Company will have the debt covenant waived until 30 June 2024, this provides TradeWindow the time needed to execute the reorganisation and cost reduction strategy.

TradeWindow is continuing to assert its rights under the nChain strategic agreement and is in positive dialogue with the UK company. It is meanwhile continuing, as previously signalled, to explore multiple options to reduce costs, continue additional funding discussions and accelerate EBITDA breakeven.

It will update shareholders and its people as the company gains certainty from all its cost cutting measures. TradeWindow intends to release its financial results for the six months to the end of September on Wednesday 29 November 2023. The company will host a webcast at 11am on the same day.

[Entrep]

Wow, Tradewindow got hoodwinked - https://www.nzherald.co.nz/business/tradewindows-financing-under-review-after-nchain-deal-falls-through/7G2RKBT5HBEOZNSHFH3UOUSRU4/

Nchain is dodgy af. Even for crypto. Had no idea they had anything to do with a NZX listed company. RUN (from Nchain).

[Sideshow Bob]

https://www.nzx.com/announcements/422570

HIGHLIGHTS
• Trading revenue - $3.0 million, up 25% lifted by a 21% increase in Average RevenuePer Customer (ARPC).
• Annual recurring revenue2 $5.5 million, up 27%.
• Gross margin - 51%, up 5ppt benefiting from onboarding performanceimprovements.
• Total operating expenses - $7.7 million, down 10% following cost reductionsannounced in March 2023.
• EBITDA loss - $4.7 million, down 20%, expected to reduce further in 2H 24 in line withexpense reductions announced in October 2023.
• Net loss after tax - $4.8 million, down 32%.
• Cash and cash equivalents - $1.8 million, an additional $500K has been raised since.
• Revenue guidance for FY 24 affirmed at $6.0 million to $6.5 million

[silverblizzard888]

https://www.nzx.com/announcements/422570

HIGHLIGHTS
• Trading revenue - $3.0 million, up 25% lifted by a 21% increase in Average RevenuePer Customer (ARPC).
• Annual recurring revenue2 $5.5 million, up 27%.
• Gross margin - 51%, up 5ppt benefiting from onboarding performanceimprovements.
• Total operating expenses - $7.7 million, down 10% following cost reductionsannounced in March 2023.
• EBITDA loss - $4.7 million, down 20%, expected to reduce further in 2H 24 in line withexpense reductions announced in October 2023.
• Net loss after tax - $4.8 million, down 32%.
• Cash and cash equivalents - $1.8 million, an additional $500K has been raised since.
• Revenue guidance for FY 24 affirmed at $6.0 million to $6.5 million


When their loss is bigger than their revenue and their cash is dwindling thats a combo for disaster.

[RGR367]

Just like the song, "I can see clearly now, TRADE is going out the WINDOW" :cool:
But hopefully not for the sake of share owners.


disc: i'm not a shareholder

[Sideshow Bob]

Hope the confidential settlement was a goodie......they need it.....

https://www.nzx.com/announcements/423899 (https://www.nzx.com/announcements/423899)

TradeWindow and nChain agree to cancel agreement with settlement

TradeWindow (NZX: TWL), a global trade software company, today announced the mutual decision with nChain to cancel the previously established strategic partnership agreement.

Since late September, both TradeWindow and nChain have worked towards resolving the challenges impeding the strategic partnership. After extensive discussions, the parties have mutually agreed to terminate the agreement in its entirety. The parties have reached a confidential settlement of which details will not be disclosed.

The cancellation of this agreement marks an opportunity for TradeWindow to pursue alternative avenues for growth, exploring new partnerships and opportunities that align with the company's objectives of advancing product development and expanding its market reach.

In line with this strategic focus, TradeWindow has recently completed a restructuring initiative resulting in a 40% reduction in its workforce. This reorganisation reflects a streamlined operating model aimed at intensifying the commercialisation efforts of existing products.

The company anticipates that this leaner operational structure will drive towards achieving a monthly EBITDA break-even in Financial Year 2025 (1 April 2024 – 31 March 2025). TradeWindow remains actively engaged in discussions regarding funding with existing and potential new investors, who back the company’s drive to profitability and sustainable growth.

[Sideshow Bob]

Another cap raise.......


https://www.nzx.com/announcements/428552

Global trade software company updates guidance for the twelve months to the end of March 2024 to $6.1 million to $6.2 million and charts path to EBITDA and cashflow break even.
Trade Window Holdings (NZX: TWL) ("TradeWindow") the global trade software firm, today announces a $2.2 million capital raising and sets out a path to delivering positive monthly EBITDA at the end of the 2025 financial year.