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Diversified Financial Services
FINANCIAL | Investment Firms & Funds
whsp.com.au

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Investments

6

Portfolio Exits

1

About Washington H. Soul Pattinson and Company

Washington H. Soul Pattinson and Company (ASX: SOL) is an investment house with investments in a diverse portfolio of assets across a range of industries.

Washington H. Soul Pattinson and Company Headquarter Location

Sydney, New South Wales, 2000,

Australia

+61 2 9210 7070

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Latest Washington H. Soul Pattinson and Company News

Wesfarmers acquires 19.3% stake in Australian Pharmaceutical Industries

Oct 7, 2021

October 7, 2021 SYDNEY, AUSTRALIA: Wesfarmers Limited has acquired 95.1 million shares in Australian Pharmaceutical Industries Limited (API) representing 19.3 per cent of API’s shares outstanding. The acquisition was made pursuant to the Undertaking Agreement entered into on 9 July 2021 with Washington H. Soul Pattinson and Company Limited (WHSP). Wesfarmers remains committed to pursuing its proposal to acquire 100 per cent of the shares in API by way of a scheme of arrangement for cash consideration of $1.55 per share, subject to the terms and conditions outlined in the Wesfarmers announcement of 16 September 2021. Wesfarmers is progressing with its confirmatory due diligence investigations in support of its proposal. Wesfarmers notes the announcement on 27 September 2021 of a proposal by Sigma Healthcare Limited (Sigma) to acquire API. Wesfarmers is of the view that the Wesfarmers proposal is superior to the Sigma proposal and is in the best interests of API shareholders. Given Wesfarmers’ commitment to progress its own proposal to acquire API, Wesfarmers does not intend to support, or vote its 19.3 per cent API shareholding in favour of, the Sigma proposal. Wesfarmers Managing Director Rob Scott said that the Wesfarmers proposal would deliver an attractive premium and certain cash return to API shareholders. “Wesfarmers continues to see opportunities to invest in and strengthen the competitive position of API and its community pharmacy partners. Exercising our option to acquire 19.3 per cent of API reflects the Group’s commitment to the transaction and the continued progress of the Wesfarmers proposal,” Mr Scott said. Wesfarmers exercised its option to acquire the shares from WHSP under the terms of the Undertaking Agreement following the announcement of Sigma’s proposal, which the API Board has not recommended. The acquisition price was $1.38 for each API share acquired. In addition, Wesfarmers is required to make further payments to WHSP such that WHSP receives total consideration per API share equivalent to that paid under any successful Wesfarmers acquisition of API.

Washington H. Soul Pattinson and Company Investments

6 Investments

Washington H. Soul Pattinson and Company has made 6 investments. Their latest investment was in Mosh as part of their Seed - II on January 1, 2022.

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Washington H. Soul Pattinson and Company Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/18/2022

Seed - II

Mosh

$18.13M

Yes

2

12/6/2021

Series C

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$99M

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10

9/16/2021

Series C

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$99M

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10

9/14/2021

Series D

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$99M

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10

5/25/2021

Series A

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$99M

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10

Date

1/18/2022

12/6/2021

9/16/2021

9/14/2021

5/25/2021

Round

Seed - II

Series C

Series C

Series D

Series A

Company

Mosh

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Amount

$18.13M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

10

10

Washington H. Soul Pattinson and Company Portfolio Exits

1 Portfolio Exit

Washington H. Soul Pattinson and Company has 1 portfolio exit. Their latest portfolio exit was SiteMinder on November 08, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/8/2021

IPO

$99M

1

Date

11/8/2021

Exit

IPO

Companies

Valuation

$99M

Acquirer

Sources

1

Washington H. Soul Pattinson and Company Acquisitions

1 Acquisition

Washington H. Soul Pattinson and Company acquired 1 company. Their latest acquisition was Milton on June 21, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/21/2021

$99M

Acq - Pending

3

Date

6/21/2021

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acq - Pending

Sources

3

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