Slater & Gordon (ASX:SGH) has announced the completion of its institutional entitlement offer to raise about A$75.6 million.
The proceeds of the Entitlement Offer will be used to completely repay the Company's existing A$64.4 million syndicated facility and associated fees, significantly reducing the Company’s net debt.
The Retail Entitlement Offer will open at 9.00am on Thursday, 5 September 2019.
The offer comes after the company posted a 73 per cent fall in full year profit to $31 million last week.
Shares in Slater and Gordon (ASX: SGH) trading 5.3 per cent higher at $1.40.