Helloworld Travel (ASX:HLO) has completed the retail component of its entitlement offer, raising a total of approximately $50 million, after the entitlement offer raised $41.6 million.
The retail entitlement offer gave eligible shareholders the opportunity to subscribe for one new share for every nine existing fully paid ordinary shares at a price of $1.65 per new share.
Helloworld’s CEO and Managing Director Andrew Burnes said investor feedback continues to be supportive and demonstrates the market’s positive view on the long-term viability of the travel industry, as Helloworld Travel manages its way through the next 12-24 months as the world learns to cope with Covid-19.
“As previously announced, the proceeds from the equity raising will provide Helloworld with the balance sheet liquidity and flexibility to maintain both its operating and capital expenditures well into 2022,” he added.
Shares in Helloworld Travel (ASX:HLO) are trading 2.57 per cent lower at $1.52