PHOTO: The Agency
After a trading halt for the last few days, The Agency has announced to the ASX that they have secured the funds to acquire Top Level Real Estate.
The acquisition involves a complex $8.4 million share placement, alongside $5 million of Top Level debt which will be converted into shares at $0.01 per share.
The documentation provided with the announcement shows Top Level currently have total debts of $26,993,812, which will become $18,760,100 immediately after the deal.
The capital funding sought by The Agency to secure Top Level was initially posted at $10 million. The delays in accessing this funding are what has pushed the acquisition back from when it was initially brought to public attention in 2017.
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