Mad Paws Holdings Limited Completed it's acquisition of Animal Magnetism Pty Ltd on April 1, 2022.
April 31, 2022
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Mad Paws Holdings Limited (ASX:MPA) agreed to acquire Animal Magnetism Pty Ltd for AUD 25 Million on February 23, 2022. Initial consideration of AUD 20 million upfront consideration, out of which AUD 14.5 million in Mad Paws shares and AUD 5.5 million cash payment and potential deferred consideration of up to AUD 5 million. Upfront cash consideration funded from a fully supported Placement together with a subsequent SPP to raise up to AUD 7.1 million. For the year ended 2021, Pet Chemist reported a Operating Revenue of AUD 5.4 Million. As on March 24, 2022, the transaction is expected to complete in early April 2022 subject to shareholder approval at the EGM on March 31, 2022.
Mad Paws Holdings Limited (ASX:MPA) Completed it's acquisition of Animal Magnetism Pty Ltd on April 1, 2022. As of March 31, 2022. the transaction was approved by Mad Paws shareholders at the Extraordinary General Meeting. Mad Paws Holdings Limited has issued Approximately 63 million shares fully paid ordinary shares to the Pet Chemist vendors. Mad Paws also welcomes Pet Chemist co-founder and Chief Executive Officer Howard Humphreys, to the Mad Paws board as an executive director.
Mad Paws Holdings Limited (Mad Paws) is an Australia-based pet services company. Mad Paws has built a technology focused online marketplace platform that connects pet owners with pet-care providers in their area. The Company's marketplace offers pet owners an access to a range of pet walking, pet sitting, and pet care services through its community of pet service providers registered on the Mad Paws marketplace. Its pet care services include At sitter's home, At pet's home, Dog sitting, Cat sitting, Puppy sitting, Rabbit sitting, Guinea Pig sitting, House sitting, Pet day care, Bird sitting, Dog grooming, Dog training, Dog kennels and Dog boarding. Its pet sitting cities include Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Gold Coast, Newcastle, Geelong, Ballarat, Townsville, Bendigo, Hobart, Toowoomba and Hobart. Mad Paws also offers pet food subscription product through its Dinner Bowl brand, as well as toys and treats under Waggly brand.