Public Hospitality Group

Public Hospitality Group
Investment Type: Secured Convertible Note
Interest: 12% P.a (Interest Paid Quarterly)
IPO Discount: 15% Discount to the IPO price
Security: Second mortgages over 11 properties
Investor Type: Sophisticated Investors
Capital Raising: Gleneagle Securities

Upon listing, investors can elect to redeem their notes, or convert to stapled securities at a 15% discount to the IPO price.
However, interest will be paid to investors until 30 November 2022, regardless of conversion or redemption.

 

    Opportunity Overview

      

       PUBLIC Hospitality Group

 

            Eligibility                                                                Issued                                                 1300 123 345
            Sophisticated Investors                                     October 2021                                    Shareprices.com.au

 

The information contained within this document is strictly confidential. By accepting this document, you have agreed to be bound by the (1) the Acknowledgements, (2) the terms and conditions including those governing the distribution of this term sheet and (3) the Important Notice and Disclaimer herein.

PUBLIC is on a mission to create Australia’s premier millennial lifestyle network of hospitality venues.

 

The company is raising $58m ahead of an anticipated listing via a Secured Convertible Note.

Equitable Investors Pty Ltd ATF Public Hospitality Unit Trust (“PUBLIC”) is a lifestyle, accommodation and hospitality business undertaking a capital raise to repay debt & fund growth. The team has identified a market gap in accommodation, sitting between the traditional short and long stay markets. They plan to exploit this gap by transforming underutilised assets in unique neighbourhoods into vibrant and bespoke lifestyle and accommodation experiences, at accessible prices.

 

BUSINESS AND PROPERTY ASSETS
• 14 hotels located in some of the most desirable suburbs of Sydney, Melbourne & Regional NSW (“Properties”); and
• the operating company Public Hospitality Operating Co Pty Ltd (“Opco”).

 

RAISING AND USE OF PROCEEDS
• Raising up to $58 million
• Secured loans to vendors to repay existing mezzanine debt and fund the properties’ capex and some working capital.

 

TRANSACTION STRUCTURE
• Redeemable Secured Convertible Note
• All asset security including registered 2nd Mortgages over 11 Properties (“Secured Properties”).

 

PROPOSED IPO
• Targeting Q2 2022 listing of stapled securities in PUBLIC and Opco.
Founded in Sydney Australia, Gleneagle is an Australian registered financial service provider and a leader in the evolution of financial markets.
With roots in Corporate Advisory, the company has expanded to include institutional dealing, foreign exchange and funds management. This allows Gleneagle to serve the diverse needs of all market participants, including; institutions, registered investment firms and funds, as well as individual investors.

About Gleneagle

Gleneagle is a Private Investment Bank, providing individual investors access to institutional level insights and opportunities.

Founded in Sydney Australia, Gleneagle is an Australian registered financial service provider and a leader in the evolution of financial markets.
With roots in Corporate Advisory, the company has expanded to include institutional dealing, foreign exchange and funds management. This allows Gleneagle to serve the diverse needs of all market participants, including; institutions, registered investment firms and funds, as well as individual investors.
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    IMPORTANT NOTICE AND DISCLAIMER

    Convertible Notes are being offered and sold as part of the Capital Raising only to:

    a. sophisticated investors, experienced investors or professional investors (as those terms are defined in sections 708(8), (10) and (11) of the Corporations Act 2001 (Cth) (“Corporations Act”)) in Australia; and

    b. certain institutional investors in countries listed in, and to the extent permitted under, the international selling restrictions set out in the investor presentation (those countries being: New Zealand, Hong Kong, Singapore and the United Kingdom),in each case, that are outside the United States and that are not acting for the account or benefit of a person in the United States in “offshoretransactions” (as defined in Regulation S under the Securities Act) in reliance on Regulation S

    This document is intended solely for the information of the particular person to whom it was provided by Gleneagle and should not be relied upon by any other person. Although we believe that the information which this document contains is accurate and reliable, Gleneagle has not independently verified information contained in this document. Gleneagle assumes no responsibility for updating any information, views or opinions contained in this document or for correcting any error or omission which may become apparent after the document has been issued. Gleneagle does not give any warranty as to the
    accuracy, reliability or completeness of advice or information which is contained in this document. Except insofar as liability under any statute cannot be excluded, Gleneagle and its directors, employees and consultants do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this document or any other person. Forward-looking information or statements in this report contain information, prepared by the Company, that is based on assumptions, forecasts of future results, estimates of amounts not yet determinable, and therefore involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of their subject matter to be materially different from current expectations.
    This document is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. This is a private communication and was not intended for public circulation or publication or for the use of any third party, without the approval of Gleneagle. This document has not been written for the specific needs of any particular person and it is not possible to take into account each investor’s individual circumstances and that investors should make their adviser aware of their particular needs before acting on any information or recommendation.