Protech Home Medical raises more than $28.8 million
By HME News Staff
Updated Wed July 1, 2020
CINCINNATI - Protech Home Medical has closed its previously announced offering of about 25 million units at a price of $1.15 per unit for aggregate proceeds of about $28.8 million, which includes the exercise in full of the 15% over-allotment option. The company has also closed: its previously announced brokered private placement of 1.75 million units at the issue price for additional gross proceeds of about $2 million, and its non-brokered private placement of 927,825 units at the issue price for additional gross proceeds of about $1 million. Protech will use the net proceeds of the offering to increase its cash position and complete strategic acquisitions. “We are excited to further execute on our growth strategy and this injection of capital will allow for an aggressive acceleration of our plan,” said Greg Crawford, CEO and chairman.
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