AUSTRALIAN Securities Exchange listed pharmacy software business, Corum Group, has raised $3.66 million through a full-subscribed placement of 146.4 million ordinary shares.
As part of the capital raising Alchemy Healthcare will become a "cornerstone" investor, putting $1.5 million into Corum, through related entities of its directors.
Alchemy Director, Nick England, has been invited to become a non-executive director on completion of the transaction.
The associated entities of Alchemy directors have agreed to a voluntary escrow period of 12 months from completion of the issue for their shareholdings, demonstrating their long-term commitment to value creation in Corum.
Lujeta Pty Ltd, Corum's majority shareholders, has said it will support the resolutions required to approved the transaction.
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