ONE’s biggest shareholder increases shareholding

Oneview’s (ASX: ONE) biggest shareholder Will Vicas has just increased his shareholding in the company.

We saw a change in substantial holding notice on Wednesday, which showed Vicars had picked up another ~9M shares in ONE, increasing his holding to 34.18% of the company.

Vicars is the Chief Investment Officer for Sydney-based fund Caledonia and has been invested in ONE ever since we first announced our Investment in ONE.

How this week's news relates to ONE’s Investment Memo:

Reason we Invested #3: Well funded to grow further
ONE completed a $20M placement in July 2023, which should provide the company with the funds it needs to become a sustainable operating cash flow-positive business and further penetrate the US healthcare market.

Source: ONE Investment Memo published 22 September 2023

We think that having an institutional buyer like Will Vicars on the register is a big win for ONE from a funding perspective.

The buying on market helps support ONE’s valuation which allows the company to raise funds at much higher valuations.

As a result we think this weeks news relates to reason #3 of why we Invested in ONE.