Austin Engineering (ASX:ANG) has raised $19.1 million through the underwritten institutional component of its entitlement offer to raise $31.6 million.
The company will soon open the retail component of the 5 for 6 entitlement offer priced at $0.45 to raise about $11.5 million.
Proceeds will be used to reduce its net debt to about $61 million.Austin has also secured a three year subordinated loan from LIM Advisors Special Situations Fund to raise approximately $20 million before costs.
On completion of the Capital Raising, the company will seek proposals to refinance the remaining syndicated senior bank debt to further stabilise its capital structure.
Austin has forecast FY 2015 revenue to be $205 million and normalised EBITDA to be in the range of $14.5 - $15.5 million.
FY 2016 earnings are expected to improve with revenue of approximately $235 million and normalised EBITDA of approximately $20 million.
Austin Engineering (ASX:ANG) has raised $19.1 million through...
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Last
30.0¢ |
Change
-0.010(3.23%) |
Mkt cap ! $186.1M | |||
| Open | High | Low | Value | Volume |
| 29.5¢ | 30.5¢ | 29.3¢ | $336.4K | 1.125M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 400258 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 48305 | 2 |
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| Last trade - 16.10pm 11/09/2025 (20 minute delay) ? |
| ANG (ASX) Chart |