Yellow Brick Road in Christmas Eve raising
Mark Bouris's Yellow Brick Road has agreed to raise A$7 million from Macquarie Bank and from Christopher Joye's Coolabah Ventures to help fund expansion.Macquarie will take $6 million of shares and Coolabah $1 million of shares, both at 40 cents per share. Settlement is expected by the close of business on 24 December."The funds raised by the private placement will be deployed by the company to accelerate its growth initiatives," the company said in a statement to the Australian Stock Exchange.The placement will leave Macquarie with an 8.3 per cent stake in Yellow Brick Road.Earlier, the company had requested a trading halt with shares trading at 43 cents, a 7.5 per cent premium to the placement price.