Ultra Commerce commences restructuring process to support next phase of growth

Ultra Commerce (UC), a global AI ecommerce infrastructure platform, has appointed Kate Conneely and Rahul Goyal of Cor Cordis as voluntary administrators of its Australian operations. UC’s overseas subsidiaries will continue to operate with support from the administrators to ensure business continuity across the broader group.

Over the past 12 months, UC has sought to secure strategic investment and / or a sale of the business, attracting engagement from several interested parties. The process highlighted strong market interest in UC’s platform, technology and growth potential, while also highlighting the need to simplify UC’s capital structure to support future investment and maximise value.

UC’s core business remains operationally strong, supported by a differentiated platform, established customer relationships and a clear pathway to improved earnings performance. However, UC’s complex capital structure and broad shareholder base limited its ability to secure the funding required to implement the next phase of its strategic plan.

The Board determined that appointing voluntary administrators was in the best interests of stakeholders. The voluntary administration process is expected to provide a more effective framework to simplify UC’s capital structure, explore recapitalisation opportunities and position the business for future growth.

The administrators will work closely with management to continue executing the business plan, with operations continuing as usual. Customers will continue to be supported, and UC intends to maintain service continuity while advancing product and service initiatives.

During the restructuring process, the administrators will explore options for new investment into a simplified corporate structure. Administrator Rahul Goyal said, “The flexibility of the voluntary administration process provides an opportunity to pursue these outcomes in a more efficient and value-maximising way. including with the support of existing investors who remain engaged with the business”.

Further updates will be provided to stakeholders as the restructuring process progresses.

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Media enquiries

Lidia Bufalino

National Marketing Director

lbufalino@corcordis.com.au

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