Oneview Healthcare PLC (ASX: ONE) has announced the successful completion of the institutional component of its 1 for 4.35 pro-rata accelerated non-renounceable entitlement offer (Institutional Entitlement Offer) and institutional placement (Placement).
The Institutional Entitlement Offer and Placement have raised gross proceeds of approximately A$21.8 million, at the Offer Price of $2.00 per new CHESS Depositary Interest (New CDI). The Institutional Entitlement Offer was well supported by Institutional Securityholders, who took up approximately 85.0% of their entitlements. The remaining New CDIs (including those offered under the A$5 million Placement) were subscribed by new and existing investors at the Offer Price.
Completion of the Institutional Entitlement Offer and Placement represents the first stage of the equity raising announced by Oneview on Friday, 17 November 2017 (Equity Raising). The retail component of the entitlement offer (Retail Entitlement Offer) is expected to raise approximately $8.3 million, taking the total size of the Equity Raising to approximately $30 million. The Equity Raising is fully underwritten by lead manager Macquarie Capital (Australia) Limited.
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