Abano Healthcare said it successfully completed the shortfall bookbuild component of the $35 million capital raise announced on July 26, with strong investor support.
Last week the Australasian radiology and dental centre operator said 3,878,946 new shares, at a price of $8.15 per share, were taken up by shareholders under its fully underwritten 1 for 5 pro rata renounceable rights offer, representing approximately 92 per cent of the new shares available to eligible shareholders under the rights offer.
As a result, it opened a shortfall bookbuild for the remaining 413,563 shares, conducted by Forsyth Barr.
At the time, it said shareholders who did not take up their full entitlements in the rights offer would receive a share of any premium achieved for the rights which they did not take up.
The clearing price under the shortfall bookbuild was $9.25 per share, a premium of $1.10 per share over the application price of $8.15 under the offer. Therefore, eligible shareholders who did not take up their full entitlements will receive $1.10 for each new share not taken up by them. Payment is expected to be made on September 1.
The shares taken up under the offer are expected to be allotted and commence trading August 30, it said.
The stock was unchanged at $9.28 and is up 22 per cent over the past 12 months.