Litigation funding company IMF Bentham (ASX:IMF)
has settled its fully underwritten institutional placement to raise $74.48 million.
IMF Bentham is set to issue 26.6 million shares.
In order to proceed, IMF needs 75 per cent or more of the existing bond holders to vote in favour of the proposed bond amendments at its next meeting, on a date to be confirmed.
Shares in IMF Bentham (ASX:IMF)
are trading 0.88 per cent lower to $2.83.