Business intelligence and information services company SAI Global (ASX:SAI) has announced a rights issue and institutional placement to raise up to $130 million.
The company has arranged an accelerated, non-renounceable, 1 for 7.2 entitlement offer at $3.60 per share, in order to raise up to $80 million.
SAI Global has meanwhile announced an underwritten institutional placement at that price to raise around $50 million.
Both the entitlement offer and the placement have been underwritten by Macquarie Capital Advisers.
The entitlement offer has a record date of 27 July, and should close on August 13.