Afterpay (ASX:APT) successfully raised $650 million via a fully underwritten institutional placement that was strongly supported by existing and new shareholders.
Placement was priced at $66.00 per share.
A Share Purchase Plan to raise approximately $150 million will follow the Placement with eligible Afterpay shareholders offered the opportunity to acquire additional new shares.
Proceeds will be used to accelerate investment in growing underlying sales, and prioritising global expansion in the short term.
Shares in Afterpay (ASX:APT) are trading 2.51 per cent lower at $66.29.