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39,023.71
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Lifestyle Communities (ASX: $LIC) completes retail entitlement offer

  • Author: Stock Piper

Completion of retail entitlement offer


Lifestyle Communities (ASX: $LIC) has successfully concluded the retail component of its fully underwritten 1 for 6.08 pro-rata accelerated non-renounceable entitlement offer. The Retail Entitlement Offer, which closed on Thursday, 14 March 2024, raised approximately $74 million at the offer price of $16.00 per new share, contributing to a total amount of approximately $275 million raised under the Entitlement Offer.

Executive Commentary


The completion of the Retail Entitlement Offer marks a significant milestone for Lifestyle Communities. We are pleased with the response from eligible retail shareholders, with approximately 0.8 million new shares taken up, representing a take-up of approximately 17.2% of the new shares available under the Retail Entitlement Offer. The funds raised will support our ongoing development and management of affordable independent living residential land lease communities.

Summary


Lifestyle Communities (ASX: $LIC) has successfully concluded the Retail Entitlement Offer, raising approximately $74 million at the offer price of $16.00 per new share. The completion of this offer will contribute to a total amount of approximately $275 million raised under the Entitlement Offer. The new shares issued under the Retail Entitlement Offer will settle on Wednesday, 20 March 2024, and commence trading on Friday, 22 March 2024. The funds raised will support the company's ambitions in developing and managing affordable independent living residential land lease communities.

LIFESTYLE COMMUNITIES LIMITED
LIC | ASX | Real Estate
12.45-0.0099999999999998(-0.08%)
At close 05/07 (AEDT)
Market cap
$1.5B
Volume
113,447
DY Yield
0.92
PE Ratio
16.85
52 Week Range
11.47 - 19.07
1YR Return
937.5%

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