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Indoor Skydive Australia Group Ltd Completes Institutional Component of Capital Raising


Sunday, 22 Sep 2013 07:34pm EDT 

Indoor Skydive Australia Group Ltd announced the completion of the institutional component of the Capital Raising announced on September 19, 2013 (Institutional Offer). Highlights are: The Institutional Offer raised gross proceeds of approximately $5.4 million; 100% of the Institutional Offer cleared in an institutional bookbuild at $0.45 per new share, a $0.05 premium to the offer price of $0.40; Excess demand from the institutional bookbuild will also be made available for a partial sell down from a substantial shareholder; and The Retail Entitlement Offer opens on October 1, 2013 at the same offer price of $0.40. Approximately 13.5 million Entitlements were available for sale under the Institutional Offer as a result of renunciations by certain Directors and substantial shareholders of IDZ. New shares to be issued as part of the Institutional Offer will be issued on October 1, 2013. Trading is expected to commence on October 1, 2013. Veritas Securities Limited acted as Sole Bookrunner to the Institutional Offer and as Corporate Advisor to the Retail Entitlement Offer. The retail component of the Capital Raising is a pro rata renounceable entitlement offer with retail trading (Retail Entitlement Offer) of two fully paid ordinary shares in IDZ for every five shares (Entitlement) held at 7.00pm AEST (Sydney time) on September 24, 2013 by eligible shareholders with a registered address in Australia or New Zealand, at a price of $0.40 per new share. 

Company Quote

0.67
-0.035 -4.96%
17 Sep 2014