By Sheri Kasprzak
New York, Feb. 9 - Australian Education Trust said it has settled a private placement for A$18,936,266.
The company sold 11,138,980 trust units at A$1.70 each to ABC Learning Centers Ltd.
The price per share is a 7% premium to the company's closing stock price of A$1.59 on Feb. 8 and a 7.5% premium to the 30-day volume weighted average price of the company's stock.
Austock Property Management Ltd. was the placement agent.
Proceeds will be used for the acquisition of new childcare centers.
Based in Melbourne, Australia, Australian Education Trust owns and operates childcare centers.
| Issuer: | Australian Education Trust
|
| Issue: | Trust units
|
| Amount: | A$18,936,266
|
| Units: | 11,138,980
|
| Price: | A$1.70
|
| Warrants: | No
|
| Investor: | ABC Learning Centers Ltd.
|
| Placement agent: | Austock Property Management Ltd.
|
| Settlement date: | Feb. 9
|
| Stock symbol: | Australia: AEU
|
| Stock price: | A$1.63 at close Feb. 9
|
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