Melbourne-based Domacom Australia (ASX:DCL) has announced a $1.5 million placement with Lumiere Lifestyle Group.
The placement involves the subscription of 107,142,857 fully paid ordinary shares at $0.014 per share and completion is conditional on existing shareholder approval, obtained in November 2024.
This move further solidifies DomaCom's financial standing and aligns with its growth strategy.
As part of the transaction, Lumiere will receive two tranches of options, with the terms contingent on a shareholder-approved share consolidation.
The strategic partnership with Lumiere includes the launch of three new funds: the Maison Rose Care Fund, Lumiere Homeowner Shared Equity Fund, and Evercare Living SDA Property Fund.
The funds are crafted to address key market opportunities across care financing, shared equity in homeownership, and specialist disability accommodation.
Giuseppe Porcelli, Chairman of DomaCom, stated, "This placement underscores the confidence Lumiere has in DomaCom's vision and capabilities."
Michael Elliott, CEO of Lumiere Lifestyle Group, added, "We see immense potential in DomaCom's innovative approach to property and equity management."
Moreover, Lumiere will acquire assets from DomaCom's underperforming sub-funds and those nearing investment term completion, offering investors various reinvestment options.
The agreement hinges on due diligence and customary conditions, with completion anticipated by March 31.
DomaCom Australia is a company engaged in the provision of investment management services and the development of a platform to fractionalise assets.
At the time of reporting, Domacom Australia's share price was $0.011.