- Apiam Animal Health (AHX) launches an entitlement offer to raise up to $20.25 million for its accelerated acquisition strategy and debt repayment
- Eligible shareholders will be able to subscribe for one new shares for every 4.8 held at a price of 70 cents each
- This represents a 9.1 per cent discount from the last closing price and a 10.6 per cent discount from the five-day volume-weighted average price
- The money raised will help fund the acquisitions of two high growth Victorian veterinary clinics
- Shares close flat to trade at 77 cents
Apiam Animal Health (AHX) has launched an entitlement offer to raise up to $20.25 million for its accelerated acquisition strategy and debt repayment.
Eligible shareholders will be able to subscribe for one new share for every 4.8 held at a price of 70 cents each.
This represents a 9.1 per cent discount from the last closing price and a 10.6 per cent discount from the five-day volume-weighted average price.
The money raised will help fund the acquisitions of two high growth Victorian veterinary clinics.
Managing Director Dr Chris Richards said he plans to take up about $4.5 million under the offer.
“Funds raised from the entitlement offer will support us to pursue our strategy to double our revenue base to more than $300 million by FY24 and execute on the next phase of growth opportunities we have identified,” he said.
The offer will open on June 2 and will be fully underwritten.
Shares closed flat to trade at 77 cents.