Arena REIT (AU:ARF) has released an update.
Arena REIT has announced a Security Purchase Plan (SPP) following a successful $120 million institutional placement at $3.78 per Security, aiming to fund new early learning center properties and developments. The SPP is open exclusively to eligible shareholders based in Australia or New Zealand, offering them the chance to buy new securities at the same price as the institutional investors. Arena REIT may scale back or increase funds raised through the SPP if demand surpasses the $20 million cap, ensuring equal ranking and voting rights for new securities issued.
For further insights into AU:ARF stock, check out TipRanks’ Stock Analysis page.
