Hydrix (ASX:HYD)
$10.0m recently raised via placement to key institutional investors.
Henslow acted as Co-Manager to the placement for Hydrix, which was completed at an offer price of $0.28 cents per share. Of the $10.0m raised, $6.0m will be used to bolster the company’s growth strategy and $3.25m will be used to extinguish outstanding secured debt.
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Hydrix has three core business segments: Services, Medical and Ventures. The company is underpinned by world class product development expertise within the Services division. Hydrix is now leveraging these skill sets to create and capture the value that it creates for its customers via Hydrix Medical and Hydrix Ventures.
The Highlights
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$20.0m
Total Raised
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$6.0m
Used to Support Growth
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4th
Capital Raise with Henslow
Accelerated implementation of operating and strategic initiatives
Henslow has worked closely with Hydrix over the past two years, with this being the fourth capital raise that Henslow has undertaken for Hydrix. We look forward to growing our successful relationship with Hydrix as they strive to become a global leader in product development.
Timeline
| August 2018 |
$2.5m Placement |
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| November 2019 |
$2.5m Placement |
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| November 2019 |
$5.0m Debt |
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| November 2020 |
$10.0m Placement |
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