Ann: ALC Raises $16.2m via Placement to Institutional Investors, page-15

Hi all,
We appreciate there has been a high volume of discussion around the trading halt over the last few days. Today we announced a successful placement of $16.2 million to new and existing institutional investors, to accelerate our growth in our existing markets, scale up the business and lay foundations for further geographic expansion.

The placement of 90 million shares at 18 cents saw significant demand and uptake from institutions. We are pleased to bring on several new, high quality funds to the share register, and these will be important cornerstone investors for Alcidion in the next stage of growth.

Over the past year Alcidion has delivered significant growth, demonstrating the strength of its capabilities as the global healthcare market embraces digital and paperless solutions to drive better care. The funds raised in the placement will be used to accelerate Alcidion’s growth by scaling up our businesses and capabilities.

In addition to strengthening Alcidion’s balance sheet, funds will be specifically be invested in sales, marketing and clinical support resources to underpin market adoption in Australia, the UK and New Zealand. The Miya Precision platform itself will see particular investment, along with our ability to deploy the platform. The capital additionally gives Alcidion resources for further geographical expansion into additional markets, via channel partnerships, direct entry or acquisition.

Building on a strong year of growth, we believe the time is now to scale up, pursue the large market opportunity ahead and ensure Alcidion continues to be at the forefront of digital innovation in healthcare. If you have any questions, please get in touch at [email protected].

You can view the placement announcement here

You can also view the capital raising presentation here