Austco Healthcare capital raising announcement

Austco Healthcare Limited (ASX: $AHC) has successfully completed a share placement, raising $6.9 million from sophisticated and professional investors. Additionally, the company has announced a 1 for 22 pro rata, non-renounceable underwritten entitlement offer at $0.185 to raise up to $2.82 million. The net proceeds will be utilized to complete the acquisition of Amentco, payout existing debt facility, and fund the ongoing working capital requirements of the Company and costs of the placement and entitlement offer.

Executive commentary on capital raising

CEO Clayton Astles expressed his satisfaction with the capital raising, welcoming new institutional shareholders and thanking loyal shareholders for their ongoing support. He emphasized the significance of completing the acquisition of Amentco, which is expected to play a pivotal role in Austco's growth and expansion strategy within Australia.

Summary of Austco Healthcare's capital raising announcement

Austco Healthcare Limited (ASX: $AHC) has successfully raised $9.7 million through a share placement and entitlement offer. The net proceeds will be used to complete the acquisition of Amentco, payout existing debt facility, and fund the ongoing working capital requirements of the Company and costs of the placement and entitlement offer. The company's Directors unanimously support the Entitlement Offer. The Entitlement Offer is fully underwritten by Bell Potter Securities Limited. The proposed timetable for the Entitlement Offer indicates that the Offer Document and an Entitlement and Acceptance Form will be sent to Eligible Shareholders by Friday 3 May 2024. CEO Clayton Astles expressed his satisfaction with the capital raising, emphasizing the significance of completing the acquisition of Amentco for Austco's growth and expansion strategy within Australia.