By Sheri Kasprzak
Atlanta, April 19 - Ramsay Health Care Ltd. said it has closed a private placement for A$103.25 million.
The company sold 14.75 million shares at A$7.00 each to institutional investors.
The price per share is a 4.1% discount to the company's closing stock price on April 12.
Ramsay said it also raised A$81 million in the institutional component of its one-for-nine accelerated entitlement offer, under which the company sold 13.1 million shares at A$6.20 each.
A retail component of the offer is expected to open April 26, and the company believes that component will bring in an additional A$16 million in proceeds.
The proceeds from the private placement and the entitlement offers will be used to partially fund the company's acquisition of Affinity Health Ltd. The acquisition is expected to cost A$1.4 billion.
Goldman Sachs JBWere is the sole bookrunner on the deal.
Based in New South Wales, Australia, Ramsay is a health care group.
| Issuer: | Ramsay Health Care Ltd.
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| Issue: | Stock
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| Amount: | A$103.25 million
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| Shares: | 14.75 million
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| Price: | A$7.00
|
| Warrants: | No
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| Placement agent: | Goldman Sachs JBWere
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| Settlement date: | April 19
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| Stock price: | A$7.70 at close April 19
|
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