• Successful completion of $15.74 million institutional placement and entitlement offer
• EZCORP, largest shareholder, subscribed for full entitlement of $8.73 million
• Proceeds to fund proposed acquisition of 29 franchise stores across 4 states

Cash Converters International Limited (ASX:CCV) has successfully completed the bookbuild for the institutional component of its equity raising, receiving subscriptions representing approximately $15.74 million. The fully underwritten institutional placement and the institutional component of the partially underwritten 1 for 9.57 accelerated non-renounceable entitlement offer together received strong demand from both existing and new shareholders. Cash Converters' largest shareholder, EZCORP, has subscribed for its full entitlement under the Institutional Entitlement Offer, representing $8.73 million. The retail component of the equity raising is expected to raise approximately $9.26 million, taking the total size of the equity raising to approximately $25.0 million. The proceeds of the equity raising, along with existing cash reserves, are proposed to be used towards funding the company's proposed acquisition of a network of 29 franchise stores across New South Wales, Queensland, Australian Capital Territory and Tasmania, as well as costs of the equity raising and the proposed acquisition.

The equity raising is expected to raise approximately $25.0 million, which will be used to fund the proposed acquisition of 29 franchise stores across 4 states.