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DomaCom Limited (ASX:DCL) (‘DomaCom’ or ‘Company’), has entered into definitive transaction documents with Bricklet Ltd (Bricklet) for a loan of $2.5 million (New Loan) and a reconfirmation of a $2.0m commitment to underwrite an Entitlement Offer (Underwriting Commitment). There will be a significant board reorganisation as part of a strategy to set up for future growth, including new board representatives being appointed.

Bricklet will seek to enable a bold shift for Domacom, from a property fractionalization platform to a comprehensive alternative asset investment hub.

The new capital enables the transformation of DCL to increase Funds Under Management (FUM), including the Homeowner Shared Equity Fund and with new funds from Central Real Capital. The recapitlisation of the business will enable a re-listing of Domacom on the ASX and removing restrictions from the trustee.

Photograph
Darren Younger CEO of Bricklet

Bricklet is a technology-driven proptech business dedicated to making property ownership more accessible and affordable for everyone. Bricklet revolutionises the homebuying process by facilitating shared home ownership, allowing buyers to secure a property with a minimal deposit through a shared equity model. By partnering with investors and lenders, Bricklet addresses the challenge of saving for a substantial initial deposit, enabling buyers to own the property while paying rent on the investor’s share.

Read full official ASX release here.