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  • Apiam Animal Health (AHX) launches an entitlement offer to raise up to $20.25 million for its accelerated acquisition strategy and debt repayment
  • Eligible shareholders will be able to subscribe for one new shares for every 4.8 held at a price of 70 cents each
  • This represents a 9.1 per cent discount from the last closing price and a 10.6 per cent discount from the five-day volume-weighted average price
  • The money raised will help fund the acquisitions of two high growth Victorian veterinary clinics
  • Shares close flat to trade at 77 cents

Apiam Animal Health (AHX) has launched an entitlement offer to raise up to $20.25 million for its accelerated acquisition strategy and debt repayment.

Eligible shareholders will be able to subscribe for one new share for every 4.8 held at a price of 70 cents each.

This represents a 9.1 per cent discount from the last closing price and a 10.6 per cent discount from the five-day volume-weighted average price.

The money raised will help fund the acquisitions of two high growth Victorian veterinary clinics.

Managing Director Dr Chris Richards said he plans to take up about $4.5 million under the offer.

“Funds raised from the entitlement offer will support us to pursue our strategy to double our revenue base to more than $300 million by FY24 and execute on the next phase of growth opportunities we have identified,” he said.

The offer will open on June 2 and will be fully underwritten.

Shares closed flat to trade at 77 cents.

AHX by the numbers
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