Ooh Media to raise $167m in equity and eyes savings of over $30m

Outdoor media company Ooh Media has announced it will undergo a fully underwritten equity raising round of $167m.

HMI Capital, a San Francisco-based private equity firm, is one of the companies involved in the exchange and its founder and managing partner Mick Hellman will join the Ooh Media board as a non-executive director. HMI has committed to sub-underwriting up to $17.7m, which could leave it with a quarter of the Ooh Media business, increasing its stake from 19% to 25%.

Outgoing Ooh Media CEO Brendon Cook will stay with the business until the end of 2020