Aussie start-up Alta Group, which runs a mixed-martial-arts training app, has quietly gone public in the US listing on the NYSE American exchange, months after warning there was doubt it could continue as a going concern unless it raised further funds.
After reporting operating losses of $20.6 million and $11.2 million for fiscal 2023 and 2022, Alta disclosed in its financial documents filed with ASIC and its prospectus that “there is substantial doubt about our ability to continue as a going concern”. “Alta has raised all capital rounds since 2020 at higher pre-money valuations than the previous round, with the IPO valuation of $US45 million pre-money being the highest valuation so far achieved by the company.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: