Superloop (ASX:SLC) has announced a $90 million equity raising at a price of 82 cents a share.
The price represents an 18.8 per cent discount to the closing price of Superloop shares on 20 September 2019.
The capital raising will be conducted via a $55 million institutional placement and a $35 million 1-for-6 accelerated non-renounceable entitlement offer.
The proceeds of the Equity Raising will be applied principally to pay down senior secured debt.
Shares in Superloop (ASX:SLC) are on the trading halt and last traded at $1.01.