Ama Group Limited (AU:AMA) has released an update.
AMA Group Limited is set to bolster its financial position through a $125 million equity raising initiative, comprising a $32.5 million institutional placement and a $92.5 million accelerated entitlement offer. The funds will primarily be used to repay existing senior bank debt and prepare for future convertible note redemptions, with a portion allocated towards working capital and growth strategies. Following the raising, AMA Group expects to significantly reduce its net leverage ratio, thereby strengthening its liquidity and long-term financial stability.
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