Threat Protect

A$32m equity raising and debt restructure

September 2021

On September 24, 2021, Threat Protect Australia Limited (“Threat Protect” or “Company”) announced a A$32 million equity recapitalisation, conducted by way of a fully underwritten placement, and accelerated renounceable entitlement issue, and a concurrent debt restructure.

The funds raised will be used to reduce the Company’s existing debt, which will strengthen the balance sheet and reduce finance costs, and as funding to pursue growth opportunities and further business improvements. The debt restructure included debt reduction through repayment, forgiveness and a debt for equity swap by way of underwriting across 3 lenders. Terms were renegotiated with the Company’s remaining lender, for approximately $27 million on a 2 year term.

The transaction is combined with a transformation and turnaround of the Company which includes a name change, consolidation, changes to the board and executive leadership, and a new business plan.

Threat Protect is Australia’s largest independent security monitoring provider, servicing approximately 75,000 wholesale and retail customers. It operates industry certified control rooms connected to fixed and mobile monitoring devices which can be used for security or a range of internet of things (IOT) applications. The Company intends to change its name to Intelligent Monitoring Group Limited to better reflect its broader range of operations and activities moving forward.

Azure acted as financial adviser to Threat Protect on the equity raising and debt restructuring, including providing valuation, structuring and strategic advice, negotiations with the lenders and the cornerstone underwriter, and assisting with preparation of the Company’s disclosure materials.