Shaw and Partners is pleased to announce that Probiotec Limited (ASX: PBP) has successfully completed a $10.56 million placement, offering 6 million new ordinary shares.

The issue price of $1.76 per share represented a 4.9% discount to the last traded price of the company’s shares on 24 September 2019 and a 0.4% premium to the previous 10-day VWAP. 

Shaw and Partners acted as a Lead Manager to the placement.

The funds raised under the Placement are intended to be used to facilitate integration and growth opportunities relating to the recent acquisition of ABS (approx. $1-2 million) with the remaining funds to be used to target further bolt on acquisitions and strengthen the company’s balance sheet.

The offer was open to Professional investor clients only.

About Probiotec

Probiotec is a leading manufacturer, marketer and distributor of a diverse, high quality range of prescription and over-the-counter pharmaceuticals, complementary medicines and specialty ingredients. www.probiotec.com.au