Evolve to raise $63.5M at steep discount to repay debt, buy Australian centres

Tue, 07 May 2019

By Paul McBeth May 8 (BusinessDesk) - Evolve Education Group plans to raise $63.5 million at a 65 percent discount to repay debt and fund a push into Australia. The capital raised will help strengthen the childcare operator's balance sheet just ahead of announcing its annual results, which it said will show a further $75 million impairment charge on the company's goodwill, taking the total writedown to $107.1 million. Underlying earnings before interest, tax, depreciation and amortisation were $13.3 million in the year ended March 31...

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