Highlights
- Carbonxt has announced a capital raise of AU$2.94 million through a placement and an entitlement offer.
- Through the non-renounceable pro-rata entitlement offer, CG1 seeks to raise AU$1.84 million.
- Funds raised will be directed towards development of the Kentucky Facility.
Carbonxt Group Limited (ASX: CG1) has launched a capital raise of up to AU$2.94 million via a placement and an entitlement offer.
Under the placement to sophisticated and professional investors, the company proposed to issue 10 million shares at an issue price of AU$0.06 per share. Sanlam Private Wealth is the lead manager/broker of the placement.
While, under the entitlement offer, eligible shareholders will get the opportunity to apply for one new share for every nine shares held as on 8 December 2023 at an offer price of AU$0.06 per share. It is expected that the offer would raise around AU$1.84 million with the issue of over 30.58 million shares.
The funds raised will be used for development of the Kentucky facility.
Carbonxt shares last traded at AU$0.065 apiece on 29 November 2023.