Viva Leisure Ltd. (AU:VVA) has released an update.
Viva Leisure Ltd. has successfully completed a $16 million institutional placement to fund strategic acquisitions and other corporate initiatives, including the purchase of eight health club locations in Western Australia. These new acquisitions are expected to bring in over $3.9 million in annual EBITDA and expand the company’s national presence. The placement, which was strongly supported by investors, involved the issue of approximately 11 million new shares at a slight discount.
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