Freedom Foods Group Ltd has announced a $65m equity raising including an institutional placement at $2.85 per new share to raise $12m, and a pro rata accelerated non-renounceable entitlement offer of 4 fully paid ordinary shares for every 33 existing shares held at 7pm Sydney time on 26th October 2015.
The offer price is a 2.5% discount to the average share price over the last 30 days. The proceeds will be used to acquire Popina (Oat based cereal and snack manufacturer), the construction of a new UHT processing facility at Ingleburn, and provide additional balance sheet flexibility.
