Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by Apiam Animal Health Limited (ASX.AHX)
The company is proposing to raise $20.2 million, by way of an accelerated pro-rata 1 for 4.8 Non-Renounceable Entitlement Offer. Apiam will be issuing up to approximately 28.9 million new ordinary fully paid ordinary shares at $0.70 per Security.
The offer price of $0.70 per share represents a 9.1% discount to last close of $0.770, a 10.6% discount to 5-day VWAP of $0.783 and a 7.6% discount to TERP of $0.758.
Funds will be utilised for two acquisitions announced last week: specialist vet business Victorian Equine Group and mixed animal clinic Romsey Veterinary.
The offer is available to Australian Sophisticated and Professional Investors only.
Apiam Animal Health is Australia’s leading rural and regional veterinary businesses made up of 72 business sites including 55 Veterinary Clinics and ~282 highly experienced veterinarians as part of a team of ~968 dedicated professionals.
Apiam’s strategy is to service Production and Mixed animals throughout their lifecycle, including the provision of veterinary services, ancillary services, genetics, wholesale and retail of related products, together with technical services related to food-chain security.
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