Alcidion Group Raises $16.2 million Through Placement to Institutional Investors

  • Nov 05, 2019 AEDT
  • Team Kalkine

Alcidion Group Limited (ASX: ALC) has announced that it has successfully completed the Institutional Placement of 90 million fully paid shares at 18 cents per new share, raising a total of $16.2 million.

  • As per the company, the funds will be used to increase the company’s growth strategy through investment in sales, marketing and clinical resources;
  • Alcidion has now strengthen its balance sheet by increasing its cash reserves and by removal of $4 million contingent liabilities in October.

At AEST 12:51PM, the stock was trading at $0.215 per share, up by 4.878% from its previous close.


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