Oneview Healthcare PLC (ASX:ONE) has announced the successful completion of an institutional placement to raise A$20 million (in two tranches, approximately A$17.5 million to be issued on 19 November, 2021 and approximately A$2.5 million to be issued subject to security holder approval). Oneview Healthcare PLC said proceeds from the Placement and Security Purchase Plan are intended to be primarily used to fund further development of the Company?s Cloud Enterprise product, accelerate its growth strategy and strengthen its balance sheet.
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company?s share price at the time to entice new and existing investors.
Following the announcement, shares in Oneview Healthcare PLC traded 1.52% lower at $0.32/share.