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Radius Residential Care Limited (NZX: RAD) Announces Opening of Retail Offer

Monday 26th July 2021

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Radius Residential Care Limited (Radius Care) is pleased to announce the opening today of its non-underwritten retail offer of up to $5 million (Retail Offer), with the ability to accept oversubscriptions of up to $5 million at Radius Care’s discretion.

The Retail Offer is part of Radius Care’s $50 million equity raising announced on 8 July 2021, pursuant to which Radius Care also undertook a $30 million placement of new shares to institutional shareholders, high net worth investors and retail investors (Placement) and will issue $10 million of new shares to Ohaupo Holdings Limited (or its the nominees), being the vendor of the land and buildings of four strategically important aged care facilities operated (but not owned) by Radius Care as part consideration for the purchase price for such land and buildings.

Radius Care announced the successful completion of the Placement on 9 July 2021. The Placement was fully subscribed at the price determined in the bookbuild for the Placement of $0.52 per share, which represented a discount of 42.0% to the 5-day VWAP of $0.8969 (up to and including 7 July 2021) and a discount to the theoretical post raise price of $0.7660 of 32.1% based on the close price of $0.90 on Wednesday, 7 July 2021 and the Placement price of $0.52 (and assuming a raise of $50 million). Settlement, allotment and the commencement of trading of new shares issued under the Placement is expected to occur tomorrow (27 July 2021) and on 3 August 2021 (with each investor that has been allocated shares under the Placement having elected one of those settlement dates).

A Retail Offer Document is now available to eligible New Zealand shareholders at www.shareoffer.co.nz/radiuscare. All eligible shareholders are encouraged to visit this website and apply online before the closing date at 5.00pm (NZ time) on Monday, 9 August 2021. A copy of the Retail Offer Document also accompanies this announcement.

Please see the link below for details

Radius Opening of Retail Offer Announcement

Radius Retail Offer Document

Radius Letter of Entitlement

Source: Radius Residential Care Limited



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