Radius to raise up to $40m

Radius executive chair Brien Cree says the company is doing what it said it would do. (Image supplied)

Thu, 08 Jul 2021

Radius Residential Care said it will raise up to $50 million to fund growth, including buying four aged-care facilities.However, $10m of the new shares will be used as part-payment for the purchases, being issued to the vendor, Ohaupo Holdings. The four facilities will cost $33m after transaction costs.The company said the purchases are strategically important facilities Radius already operates but doesn’t own and any additional funds over the purchase costs will be used to reduce debt.The acquisitions will increase Radius' brownfield...

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