Alcidion (ASX:ALC) raises $5.0m to maintain balance sheet strength for growth opportunities
Henslow is pleased to have acted as Lead Manager to Alcidion on a $5m institutional placement. The placement was well supported by existing shareholders whilst also welcoming several new institutional shareholders to the register.
Proceeds from the raise will provide Alcidion with maximum flexibility and ensure a strong balance sheet to execute on their market opportunities and enable them to continue to drive revenue growth.
At the end of September 2023, Alcidion has $35.3m of contracted revenue for FY24 (expected to grow over the remainder of the year) and is forecasting to be EBITDA and cashflow positive.
Over the past four years, Henslow has advised Alcidion in raising over $100m across 4 transactions, whilst also assisting shareholders to realise value via on-market trading.
The successful transaction provides a further example of Henslow’s ability to partner with exciting growth companies, and as appropriate provide advice across both M&A and equity market transactions.
About Alcidion:
Alcidion is a market leading healthcare software informatics company providing an innovative technology platform to improve the efficiency and quality of patient care. Their flagship platform, Miya Precision, can be deployed in a modular approach to accommodate varying customer priorities and budget profiles across the UK, Australia and New Zealand markets.
