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Here’s why the Pacific Smiles (ASX:PSQ) share price is frozen



Pacific Smiles Group Ltd (ASX: PSQ) shares are frozen today after the dental centre operator requested a trading halt as it announced details of a capital raising. The Pacific Smiles share price closed yesterday’s session at $2.70.

What was announced?

The Pacific Smiles share price is not going anywhere today. This comes after the company advised it will seek to raise $15 million through a placement of new shares. Further to this, another $5 million will be raised through a share purchase plan (SPP).

The reasoning provided for the injection of funds is to accelerate growth opportunities and increase liquidity. This comes after the company recorded a solid result for 1H FY21. Earnings before interest, tax, depreciation, and…

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