IMF Bentham (ASX:IMF) will finance its proposed $141 million acquisition of European litigation funder Omni Bridgeway via a capital raising.
The litigation funder is seeking $139 million in fresh funds via a fully underwritten institutional placement and an entitlement offer.
Net proceeds from the raising will be used to fund the $57 million cash payable upon completion of the acquisition.
IMF hopes to raise $139 million through the issue of up to approximately 40.6 million new Shares.
IMF Bentham says the acquisition is expected to accelerate the company’s growth and create a major diversified global litigation funding platform across common law and civil law jurisdictions in both developed and emerging markets.
Shares in IMF Bentham (ASX:IMF) Trading Halt - Last Traded at $3.78.