Norwood raises $5.8m in US
Tuesday, 29 March, 2005
Norwood Abbey (ASX:NAL) has raised AUD$5.8 million (US$4.5 million) through a placement to three US institutional investors. The company may also receive a further $6 million in additional equity investment from the same investors within the next six months.
The capital raising plus additional equity investment is expected to fully fund the company's current business plan.
The placement, of 12.7 million shares at $0.47 per share, brings total US shareholdings in the company to 26 per cent.
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