HelloWorld Travel Ltd (ASX: HLO) completed its institutional placement and entitlement offer on 17 July. Some highlights are:
- The Institutional Offer raised gross proceeds of about $41.6 million at an offer price of $1.65 per new share
- The equity raise will consist of roughly $27.1 million under the Placement and about $14.5 million under the entitlement Offer
- The amount raised through equity would give the group sufficient liquidity to operate through the end of 2022
HLO is expected to raise roughly $50 million comprising the Institutional Offer of nearly $41.6 million and additional funding of $8.4 million through Retail Entitlement Offer. It expects to lift its trading halt from 17 July.