GUD Holdings: Completes $55M institutional placement -

GUD Holdings (GUD) has successfully raised $55 million through a placement to institutional investors
The ASX 200-listed stock entered a trading halt ahead of the raise which is funding the $70 million acquisition of AMA Group’s ACAD business
A total of 4.9 million new shares have issued at $11.25 – representing a 4.9 percent discount to GUD’s last traded share price on November 18
Additionally, GUD is launching a share purchase plan (SPP) to raise another $15 million
Eligible shareholders may subscribe for up to $30,000 worth of new securities
At market close, GUD was trading a slight 0.17 percent higher for $11.85

GUD Holdings: Completes $55M institutional placement