On 6 November 2023, Soprano Design (Technology) Australia Pty Ltd (Soprano DTA) (a wholly owned subsidiary of Soprano Design Pty Ltd) announced its intention to make an off-market takeover bid for all the ordinary shares in Whispir Limited (ASX: WSP) (Whispir) for $0.48 cash per share (Offer). The all cash offer price of $0.48 is best and final and will not be increased, in the absence of an alternative proposal or a competing proposal. The Offer is unconditional, other than in respect of a “prescribed occurrences” condition.
The Offer price of $0.48 cash per share represents a:
- 92.0% premium to the issue price of A$0.25 per share under Whispir’s recently completed A$3.25m private placement, as announced to the ASX on 23 October 2023;
- 60.0% premium to the closing price of Whispir shares on 3 November 2023 of A$0.30 per share;
- 59.5% premium to the 10-day volume weighted average price (VWAP) of Whispir shares ending on 3 November 2023 of A$0.30 per share; and
- 58.3% premium to the 30-day VWAP of Whispir shares ending on 3 November 2023 of A$0.30 per share.
Soprano DTA provided its Bidder’s Statement for the Offer to ASIC, the ASX and Whispir on 6 November 2023. The Bidder’s Statement contains further detailed information relevant to the Offer, including how to Accept the Offer. A copy of the Bidder’s Statement is expected to be dispatched to Whispir security holders on 20 November 2023 (although this is subject to change).
A copy of Soprano’s initial ASX Announcement announcing the Offer is available here.
A copy of Soprano’s Bidder’s Statement is available here.
All ASX Announcements relating to Whispir (and the Offer) are available on the ASX webpage here.
Soprano Design is a leading global Communications Platform as a Service (CPaaS) provider that helps large enterprise and government customers unleash the power of communications. Headquartered in Sydney, Australia, Soprano brings nearly 30 years of experience with enterprise communications to over 4,500 clients around the globe. Soprano’s flagship product, Soprano Connect, is an award-winning CPaaS platform that helps customers to strategically integrate conversational AI, SMS, email, voice, IP messaging and social channels such as RCS, WhatsApp and Google Business Messages into a seamless and secure omni-channel experience. In 2022, Soprano acquired Ubisend, a UK-based conversational AI company, extending the AI capabilities of its globally successful Soprano Connect CPaaS solution.