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  • Alcidion (ALC) successfully completes its placement and institutional entitlement offer and raises $43.4 million
  • Yesterday, the company announced it was looking to raise $55 million to buy patient software specialists, Silverlink PCS Software
  • The placement raised $30 million through the issue of 120 million shares priced at 25 cents, while the institutional entitlement offer raised $13.4 million through the issue of 53 million shares
  • Alcidion is now set to undertake a retail entitlement offer to raise the remaining $11.6 million
  • Alcidion ends the day in the grey with shares trading at 32 cents

Alcidion (ALC) has successfully completed its placement and institutional entitlement offer and raised $43.4 million.

Yesterday, the company announced it was looking to raise $55 million to buy patient software specialists, Silverlink PCS Software.

The placement raised $30 million through the issue of roughly 120 million new shares to institutional and sophisticated investors at 25 cents.

This price represented a 21.9 per cent discount to Alcidion’s closing price of 32 cents on December 6.

The institutional entitlement offer raised roughly $13.4 million through the issue of 53 million new shares.

Further, Managing Director Kate Quirke subscribed for one million shares, worth $250,000 under the institutional entitlement offer.

Shares under both the placement and institutional entitlement offer are expected to settle on December 14 and be issued and begin trading on the ASX on December 15.

Ms Quirke said the company is pleased to have completed these two components of the capital raising.

“We are pleased to have successfully completed the institutional placement and accelerated institutional component of the non-renounceable entitlement offer,” Ms Quirke said.

“We are grateful for the continued support of our key existing investors, and we welcome a number of new shareholders onto our register.”

Alcidion is now set to undertake a retail entitlement offer to raise the remaining $11.6 million.

Non-Executive Directors Rebecca Wilson, Daniel Sharp and Simon Chamberlain intend to subscribe for the full entitlements under this offer.

Alcidion has ended the day in the grey, with shares trading at 32 cents in a $335.3 million market cap.

ALC by the numbers
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