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BirdDog In Market For $13m Pre-IPO Hunt

Video technology company BirdDog Australia is set to float while drumming up support for a $12.75 million pre-IPO round.

PAC Partners is running the show for the pre-float raising, and expected to handle its IPO before the end of the year.

The company offers live video transmission in broadcast quality using existing computer networks.

BirdDog has 53 hardware products and 10 software products, including cameras, audio-visual controllers, network converters and computer chips. It said its products are used by the likes of Google, Apple, Microsoft, Amazon Web Services and the Formula 1, among others.

The company posted $9.7 million revenue in the 2020 financial year and $30.2 million in the nine months to March 31 this year.

The pre-IPO round was structured as a convertible note, which would convert at either a 25 per cent discount to the IPO offer price or at a $95 million valuation cap.

BirdDog is distributed by Ambertech.

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