Successful Completion of Retail Entitlement Offer
Bendigo, June 21, 2022 AEST (ABN Newswire) - Apiam Animal Health Limited (ASX:AHX) is pleased to announce that it has successfully completed the fully-underwritten retail component of its pro rata 1 for 4.8 accelerated non-renounceable entitlement offer (Entitlement Offer) of new shares. This represents the final stage of Apiam's $20.25 million Entitlement Offer as announced to the ASX on 26 May 2022.
Under the Retail Entitlement Offer, Apiam will raise approximately $8.4 million through the issue of 11,934,845 shares at $0.70 per share. 2,509,943 fully paid ordinary shares will be issued to shareholders participating in the Entitlement Offer and in addition 9,424,902 fully paid ordinary shares will be issued pursuant to the underwriting agreement with joint lead managers, Shaw and Partners Limited and Morgans Corporate Limited.
The settlement date for new securities issued under the Retail Entitlement Offer is 23 June 2022. Allotment of these securities is expected to occur on 24 June 2022 and trading on the ASX is expected to occur on 28 June 2022.
Apiam's Managing Director, Dr Chris Richards said "The Retail Entitlement Offer has successfully completed, and we would like to thank our shareholders for their continued support. We now look forward to completing the settlement of the recently announced acquisition of Victorian Equine Group and continuing to execute on our accelerated growth strategy to target base revenue of $300 million by FY24 through organic growth initiatives applied across both existing clinics and future high quality acquisitions".
About Apiam Animal Health Limited
Apiam Animal Health Limited (ASX:AHX) is comprised of Australia's leading Production Animal and Mixed Animal veterinary practices. Apiam Animal Health incorporates over 150 highly experienced, industry leading veterinarians with expertise across the pig, dairy, feedlot, sheep, poultry, equine, and companion animal sectors, supported by an experienced administration, nursing, technical services and ancillary team. Apiam Animal Health is fully vertically integrated, including having veterinary wholesale, diagnostics laboratories, custom vaccines, logistics, and other ancillary services.
Apiam Animal Health Limited