Acrow Ltd Announces Acquisitions and Capital Raise
Key points
- Acquisition of Ausgroup Industries Limited and Preston SuperDeck business
- Fully underwritten $70M equity raising
- Funds to be used for acquisitions and/or debt reduction
Full summary
Acrow Limited (ASX:ACF) has announced its plans to acquire Ausgroup Industries Limited and Preston SuperDeck. The acquisition will be funded through a fully underwritten equity raising of $70 million. This capital will either be used to cover the cash consideration of the acquisitions or to reduce the company's debt. The company has not been able to verify the accuracy or completeness of the information provided by the targets and their vendors, and there is a risk that the actual financial position and performance of the targets may differ materially from expectations.
Guidance
None
Outlook
None
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