Energy Technologies Limited (ASX:EGY) Rights Issue Results

Energy Technologies Limited (ASX:EGY) has announced the successful completion of its non-renounceable pro-rata rights issue, raising approximately $0.4m. Eligible shareholders subscribed for approximately 14.4m new shares at the issue price of $0.03 per share. The company also revealed a shortfall of 407,645,638 new shares, amounting to $12,229,369.14, which may be placed at the same price on the same terms as the offer, at the discretion of the board, within the next 3 months. The new shares subscribed for are expected to be issued on October 9, 2024, with trading commencing on October 10, 2024.

Executive Commentary

The successful completion of the rights issue demonstrates the support and confidence of our eligible shareholders in Energy Technologies. The funds raised will be instrumental in advancing our manufacturing capabilities and driving our strategic initiatives forward. We appreciate the participation of our shareholders and look forward to delivering on our commitments.

Summary of Rights Issue Results

Energy Technologies Limited (ASX:EGY) has successfully completed its non-renounceable pro-rata rights issue, raising approximately $0.4m. The company witnessed strong participation from eligible shareholders, with approximately 14.4m new shares subscribed at the issue price of $0.03 per share. Additionally, a shortfall of 407,645,638 new shares, amounting to $12,229,369.14, was revealed. The company retains the right to place the residual shortfall at the same price on the same terms as the offer within the next 3 months. The new shares subscribed for are expected to be issued on October 9, 2024, with trading commencing on October 10, 2024. The funds raised will be pivotal in advancing the company's manufacturing capabilities and strategic initiatives, reflecting its commitment to progress and growth.