Aspen Group (ASX: APZ) has successfully completed an institutional placement, raising AU$70.18 million through the issuance of 24.2 million new securities at AU$2.90 each. The placement, which was strongly supported by investors, falls within Aspen's existing 15% placement capacity under ASX Listing Rule 7.1 and does not require shareholder approval. The proceeds will be used to reduce debt and enhance Aspen’s ability to pursue both organic and acquisition-led growth, lowering its gearing to approximately 17%.
In addition, Aspen has announced a Security Purchase Plan (SPP) for eligible shareholders who were on the register as of 14 May 2025. These shareholders can apply for up to AU$30,000 worth of new securities at the same fixed price of AU$2.90 per security. The SPP is capped at AU$4 million and may be subject to scale-back. Trading of APZ securities has resumed on the ASX today, with further SPP details expected on 27 May 2025.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
