Shaw and Partners acts as Joint Lead Manager for the Paragon Care capital raising News08 Feb 2018

Shaw and Partners acted as Joint Lead Manager and Underwriter for the Paragon Care (ASX: PGC) $69.8 million capital raising.


The equity raising was fully underwritten and comprised of a $26.6 million institutional placement and a 1 for 2.8 accelerated pro rata non-renounceable entitlement offer to raise approximately $43.2 million. 


The issue price of $0.725 represented a 4.8% discount to Paragon's closing price of $0.76 on 6 February 2018; and a 5.5% discount to Paragon’s 5-day VWAP of 0.765.


The capital raising was well supported by new and existing high quality domestic and Asian institutional funds. 


Funds raised will be used for earnings accretive acquisitions, in-line with Paragon Care's stated strategy to use bolt-on deals to deliver on its next stage of growth.


About Paragon Care Limited

Paragon Care (ASX: PGC) is a Melbourne based listed company which has progressively acquired businesses in the healthcare sector. It is a leading provider of medical equipment, devices and consumables for the Australian and New Zealand healthcare market. These are high growth markets driven by the ageing of the population, continuously rising consumer expectations and increasing government spending. By combining a series of strategic acquisitions of class leading companies, Paragon Care has positioned itself to provide end to end solutions including equipment and consumable solutions for acute, aged and primary care.

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