Offering will finance the rapid commercialization of the Kalina Cycle
By Devika Patel
Knoxville, Tenn., Feb. 4 - Wasabi Energy Ltd. said it has sold ordinary shares in a private placement. The deal raised £3.02 million.
The company sold 112 million shares at 2.7p each, which is identical to the closing share price on Feb. 2, the last trading day before placing letters were dispatched to the participating institutions, the company said in a press release.
Proceeds will be used to continue the rapid commercialization of the Kalina Cycle.
Based in West Perth, Australia, Wasabi is an investment company.
| Issuer: | Wasabi Energy Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £3,024,000
|
| Shares: | 112 million
|
| Price: | 2.7p
|
| Warrants: | No
|
| Settlement date: | Feb. 4
|
| Stock symbol: | London: WAS
|
| Stock price: | 3.07p at close Feb. 4
|
| Market capitalization: | £52.19 million
|
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