Helloworld Travel Limited (ASX:HLO) has introduced a fully underwritten Equity Raising of ~A$50.0 million to fortify its balance sheet flexibility and to offer liquidity to help it manage the extended period of interruption to the global travel industry.
The equity raising comprises an institutional placement and an entitlement offer. The Placement worth ~A$27.1 million is fully underwritten and shall be offered to institutional investors at $1.65 per share, and the entitlement offer shall be of ~A$22.9 million.
Subsequent to completion of the equity raise, Helloworld will have sufficient liquidity for operating as well as capital expenditure through to the end of 2022 believing ongoing disruption.
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