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Capitol Health advised on capital raising
Maddocks has advised the diagnostic imaging company on a multimillion-dollar capital raising.
Tony Zhang
Firms: Maddocks (Capitol Health)
Value: $40 million.
Area: Capital raise, private equity.
Key players: The Maddocks team advising Capitol Health was led by partner Cath Debreceny and included partner Ron Smooker, senior associate Jacqueline Picone and lawyer Alexandra Hodsman.
Deal significance: Capitol Health, a Melbourne-based company, which owns and operates clinics in Victoria, Tasmania and Western Australia, launched the capital raising on 14 April. Once completed, the company will raise $29.8 million via an institutional placement and a further $10 million via a share purchase plan.
The capital raising is one of the first to take advantage of the temporary increase in the ability of listed companies to raise capital without member approval announced by the Australian Securities Exchange in March as a response to the business impact of COVID-19.
The company has hired broker Shaw and Partners to run the raising.
Capitol shares last traded at 20¢ each and had a $151 million market capitalisation.
