Nick Scali (ASX:NCK) raises $46M for UK expansion and Fabb Furniture buyout

Nick Scali completed a $46 million institutional placement, issuing 3.5 million new shares at $13.25 each.

The move supports the acquisition of Fabb Furniture and entry into the UK market.

Additionally, a $4 million conditional placement is planned for CEO Anthony Scali, pending shareholder approval.

Eligible shareholders in Australia or New Zealand can participate in a share purchase plan to buy up to $30,000 worth of shares at the same price.