Aspen Group seek another $3M after raising $36.34M from investors in 24 hours

ASX-listed Aspen Group, which raised $36,34 million from investors in just 24 hours, is seeking a further $3 million. The Sydney-based land lease, holiday park and residential operator, is offering for eligible shareholders up to $30,000 of new stapled securities in the company at a 4.5% discount price of $1.58. SUBSCRIBE TO SATURDAY DIGITAL MAGAZINE

“The purpose of the offer is to initially reduce debt to strengthen Aspen’s balance sheet and put it in a better position to pursue acquisition opportunities,” Chairman Clive Appleton (pictured) said.

Aspen Group told the ASX on 13 September that for the first two months of this financial year its total revenue of $8.6 million was up 53% compared to the previous corresponding period.