- Gryphon Capital Income Trust’s (GCI) responsible entity One Manged Investment Funds is planning a capital raise
- The company is issuing nearly 31 million shares to wholesale investors at $2.01 per share, raising around $62 million
- Funds will be used to undertake additional investments consistant with its trust investment strategy
- GCI has entered a trading halt and last traded at $2.04 per share
Gryphon Capital Income Trust’s (GCI) responsible entity One Manged Investment Funds is planning a capital raise.
The company is issuing nearly 31 million shares to wholesale investors at $2.01 per share, raising around $62 million.
Funds will be used to undertake additional investments consistant with its trust investment strategy.
The new units will be a maximum of 15 per cent of trust’s issued capital and therefore will not require GCI unitholder approval.
The responsible entity has entered into a placement agreement with Morgans Financial and National Australia Bank, which will together manage and arrange the placement as joint lead managers.
Gryphon is a specialist fixed income manager with experience in the Australian and International fixed income markets.
While the capital raise is currently being undertaken, GCI has entered a trading halt.
Company shares will be paused until Wednesday, August 11, or when the raise is complete.
GCI last traded at $2.04 per share.