Waterlogic expects to raise gross proceeds of £41m in aggregate by way of a placing of 33,427,588 Ordinary Shares to institutional investors at £1.45 per share.
The company intends to use the proceeds of the Placing to fund future acquisitions of companies, businesses and distributors, as well as its Firewall UV technology, and expand its manufacturing facilities and invest in additional systems and infrastructure.
For the financial year ended 31 December 2010, the Group generated revenues and adjusted Ebitda of US$68.3m and US$11.4m, respectively, and had approximately 500,000 machines installed.
Source: Waterlogic
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