NSX Limited concludes non-renounceable entitlement offer

NSX Limited (ASX: $NSX) has closed its non-renounceable Entitlement Offer, where shareholders were entitled to 1 fully paid ordinary share for every 2 shares held at an issue price of $0.025 per share. The offer closed at 5.00 pm on Friday, 1 March 2024. A total of 51,042,313 shares were subscribed, representing 25.4% of all shares offered. The total shares on issue after the entitlement offer allocation will be 452,462,596 shares. The Company will issue and allot all new shares under the rights issue on Friday, 8 March 2024 and lodge an Appendix 2A with ASX on that day.

Executive Commentary

NSX would like to thank those shareholders that subscribed to the offer.

Summary

NSX Limited has successfully concluded its non-renounceable Entitlement Offer, with a subscription rate of 25.4%. The company received applications for 51,042,313 shares, representing a total subscription amount of $1,276,057.83. However, there is a shortfall in subscriptions of 149,667,909 shares. NSX will issue and allot all new shares under the rights issue on Friday, 8 March 2024. The company aims to continue building a challenging alternative exchange by creating a market that is more accessible, diverse, and lower cost, enabling more businesses access to liquidity and new capital using the credibility of an IPO.