On 7 July 2020 Afterpay Limited's (Afterpay) announced a share purchase plan (SPP) which follows after the successful placement of shares to sophisticated and professional investors which raised $650 million(Placement).

In the business update they showed strong momentum in theirbusiness and highlighted their opportunity to expand their global footprint.The capital raised will accelerate their investment in growing underlying salesand, prioritising global expansion. Proceeds will underpin the funding required for rapid growth and provide capacity and flexibility to execute on potential mergerand acquisition opportunities and to expand their global footprint.

The SPP provides each Eligible Shareholder the opportunity to subscribe for up to $20,000 worth of new, fully paid, ordinary shares in Afterpay (SPP Shares), without incurring brokerage or other transaction costs.The SPP aims to raise approximately $150 million and is not underwritten. Afterpay may decide to scale back applications under the SPP, or to increase the size of the SPP, at its absolute discretion.

The SPP is offering the shares at a price of$66, which is around an 8% discount to the current share price of ~$72.

For further information on the offer, see https://www.afterpaytouch.com/investor-centre