Booster has announced that one of the businesses in its Innovation Fund's investment portfolio is planning to go into liquidation.
The company informed Booster that it encountered an unexpected barrier to growth and, after exploring options to raise additional capital, decided to pursue liquidation.
Due to confidentiality restrictions, Booster was unable to disclose the name of the business.
As a result of this development, Booster has reviewed the carrying value of the investment and determined that a valuation decrease is warranted.
The company has decreased its assessment of value by $664,000, which represents a 3.25% decrease in the total Fund value.
This adjustment will be reflected in the unit price of the fund, effective November 26.
Booster is currently undertaking its monthly assessment of value for the other investments in the portfolio and expects a small increase in their value, which will partially offset the reduction.
A further announcement will be made to confirm the overall impact on the portfolio.
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