By Jennifer Chiou
New York, Oct. 17 - Aspen Group said it closed a A$24.5 million private placement for gross proceeds of A$22.1 million.
The company sold the stapled securities at A$0.90 each.
The company said it will also offer holders the chance to acquire stapled securities under the same terms through a stapled security purchase plan. It will be open to holders as of Oct. 15 and will end on Nov. 14.
Proceeds will go toward the company's Aspen Karratha Village, Balmoral Accommodation Village, debt reduction and issue costs.
Based in Perth, Western Australia, Aspen is a fund management and investment firm focused on the commercial properties sector.
| Issuer: | Aspen Group
|
| Issue: | Stapled securities
|
| Amount: | A$24.5 million for A22.1 million of gross proceeds
|
| Price: | A$0.90
|
| Warrants: | No
|
| Settlement date: | Oct. 17
|
| Stock price: | A$0.95 at close Oct. 10
|
| Symbol: | ASX: APZ
|
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