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- Doctor Care Anywhere (DOC) announces $1 million SPP after raising $11.2 million in a capital raising placement
- DOC approximates 39.4 million new CDIs issued under SPP
- Proceeds will go towards supporting DOC’s organic growth-related initiatives, working capitals and costs
- At the close of market yesterday, DOC was down 14.1 per cent and is trading at 30.5 cents per share at 16:00 pm AEDT
Telehealth company Doctor Care Anywhere (DOC) has announced a $1 million security purchase plan (SPP) launch following a successful $11.2 million placement.
The SPP will provide eligible holders of CDIs in DOC the opportunity to subscribe for up to $30,000 worth of new CDIs at $0.31 per new CDI, reflecting the same price as in the placement plan.
DOC approximates 39.4 million new CDIs will be issued under the SPP, and all new CDIs issued will rank equally with existing DOC CDIs.
New CDIs issued under the SPP are expected to settle on March 4, 2022, and commence trading on March 7, 2022.
At the close of the placement plan, approximately 36.1 million new CDIs will be issued at the offer price of $0.31, representing 10 per cent of DOC’s existing issued capital.
The offer price of the placement plan reflects a 12.7 per cent discount of DOC’s last trading price of $0.355 per CDI on February 25, 2022, and a 17 per cent discount to DOC’s 5-day volume-weighted average price of $0.373 per CDI up to and including Friday 25 February 2022.
DOC intends to use the proceeds from the SPP to support organic growth-related initiatives, working capital and offset costs incurred as a result of the offer price.
Currently, DOC is in various stages of negotiations with counterparts who are aligned to the company’s existing strategy in relation to such acquisition opportunities, particularly in the United Kingdom.
DOC is a UK-based telehealth company that delivers patient experience and clinical care digitally, using its proprietary platform.
At the close of the market yesterday, DOC was down 14.1 per cent and is trading at 30.5 cents per share.
