Healthcare company Zenitas
(ASX:ZNT) announced it is raising $29.7 million in a fully underwritten institutional placement and entitlement offer.
The funds would be used for a pipeline of advanced acquisitions expected to be completed over the coming months.
The shares are issued at $1.15 per share, with approximately $9.1 million placed to professional and sophisticated investors and $20.6 million in an accelerated non-renounceable issue.
After the offer is complete, Zenitas will have a net cash balance of $9.2 million.
Managing Director and CEO Justin Walter said the capital raising will increase Zenitas’ acquisition funding capacity.
Shares in Zenitas
(ASX:ZNT) is on a trading halt and last traded at $1.33.
