Deal conducted alongside £3.03 million non-renounceable rights issue
By Devika Patel
Knoxville, Tenn., June 27 - Wasabi Energy Ltd. said it will raise £3.3 million in a private placement of stock.
The company will sell 300 million ordinary shares at 1.1p each, which is a 4.35% discount to the closing share price on June 27 of 1.15p.
The company also plans a £3.03 million non-renounceable rights issue on the basis of one new ordinary share for every 10 ordinary shares held.
Based in West Perth, Australia, Wasabi is a clean technology company that provides solutions to the world's energy efficiency and water conservation challenges.
| Issuer: | Wasabi Energy Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £3.3 million
|
| Shares: | 300 million
|
| Price: | 1.1p
|
| Warrants: | No
|
| Settlement date: | June 27
|
| Stock symbol: | London: WAS
|
| Stock price: | 1.15p at close June 26
|
| Market capitalization: | £28.21 million
|
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