Litigation Capital Management Limited (LCM)
- LCM issues 21.4 million New Shares to raise $15.0 million for its IPO on the ASX
- Market cap. of $37.5 million at the Offer Price of $0.70
- Funds raised to pay down debt and finance future growth
Litigation Capital Management Limited (LCM) (ASX:LCA) is pleased to announce that it has successfully raised $15.0 million pursuant to its IPO on the ASX.
Patrick Moloney, Managing Director of LCM, said “The IPO of LCM on the ASX is clearly the most significant event in the 18 year history of the business. It comes at an exciting time for the asset class with a growing awareness of this attractive corporate finance tool within the Australian corporate community. We are also very pleased with achieving the maximum subscription amount of $15.0 million having set a minimum subscription of $7.5 million.”
Funds raised will enable LCM to pay down its Credit Facility and provide funding for LCM’s existing Litigation Project portfolio and Pipeline Projects.