The Capital Raising was strategically structured to include an institutional placement and entitlement offer and a pro-rata accelerated, non-renounceable entitlement offer to wholesale and retail investors, to capitalise on Helloworld's strength and value across the market as a whole. The placement and institutional component of the entitlement offer were undertaken on Thursday, 16 July 2020, attracting strong demand from existing and new institutional investors, raising $41.6 million and demonstrating the market's positive view of the long-term viability of the travel industry and Helloworld's ability to withstand the volatility of the next 12-24 months.

Helloworld launched the Capital Raising to increase its balance sheet flexibility and to provide liquidity to help it manage the prolonged period of disruption to the global travel industry. Following completion of the Capital Raising, Helloworld is expected to have sufficient liquidity for operating and capital expenditure through to the end of 2022, assuming ongoing disruption.

The MinterEllison team, led by Bart Oude-Vrielink (Partner) and Kate Koidl (Partner) with assistance from Nicole Sloggett (Senior Associate), Mark Simkiss (Lawyer), Marissa Piazza (Lawyer), Dylan Gaymer (Graduate) and Joseph Xuereb (Graduate), are advising Helloworld on all aspects of the capital raising, including offer structure, underwriting, timing imperatives, due diligence, regulatory oversight, offer documentation and ASX liaison.