- Maggie Beer Holdings (MBH) has successful completed a retail entitlement offer to raise $20.4 million
- A retail component of the offer, plus a previous entitlement offer, have now collectively raised around $30 million
- The funds will go towards the acquisition of Hampers and Gifts Australia
- The settlement date for the new shares to be issued is Friday, April 23, and the issue of new shares is scheduled to occur on April 26, 2021
- Maggie Beer Shares are up 2.9 per cent, trading at 35.5 cents
Maggie Beer Holdings (MBH) has successful completed a retail entitlement offer to raise $20.4 million.
The retail component of the entitlement offer, which closed on April 19, 2021, raised $9.6 million. A previous non-renounceable entitlement offer of new fully paid ordinary shares raised $20.4 million. Together with the placement and the entitlement offer, the amount raised totalled round $30 million.
The retail entitlement offer allowed eligible retail shareholders to subscribe for one new share for every 3.8 existing fully paid ordinary shares which they held in the company, at a price of $0.35 per new share.
Proceeds from the offer will go towards purchasing 100 per cent of the shares in Hampers and Gifts Australia, a leading eCommerce gourmet hamper and gift business. Competition of the acquisition is expected to occur on May 21, 2021.
MBH received valid applications from eligible retail shareholders for 19,346,632 new shares representing around 70 per cent of new shares available under the offer.
The shortfall after the issue of the new shares under the retail entitlement offer of 8,193,686 shares will be allocated to the underwriter of the offer.
The settlement date for the new shares to be issued is Friday, April 23, 2021 and the issue of new shares is scheduled to occur on April 26, 2021.
Maggie Beer Shares are up 2.9 per cent, trading at 35.5 cents at 11:45 am AEST.