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Pulse Health Ltd announces intention to pursue acquisitions and capital raising for acquisition

Thursday, 3 Apr 2014 08:00pm EDT 

Pulse Health Ltd:Announced its intention to pursue acquisitions as part of its growth strategy.The company has an active acquisition pipeline and is currently in negotiations on two potential private hospital acquisitions.To support this acquisition activity, the company has undertaken a capital raising by a placement to institutional and sophisticated investors.Should the company decide not to complete on either potential acquisition, the funds will be used to reduce debt and borrowing costs pending other suitable acquisitions being completed.The company has received firm commitments from institutional and sophisticated investors, to raise A$30.0 million from clients of Petra Capital Pty Ltd.The capital raising will comprise a two stage placement, both priced at $0.60 per share.Petra Capital Pty Ltd is acting as Exclusive Manager to both placements.Funds raised from the capital raising will be used to finance the acquisition of the Company‚Äôs acquisition pipeline to support medium term growth and to augment working capital for these acquisitions. 

Company Quote

27 Apr 2015