Connected IO (ASX:CIO), soon to be renamed Connected Minerals Limited, announced the successful conclusion of its Placement Offer, Entitlement Offer, and Shortfall Offer, raising a total of $5.092 million. The shares from these offers will be allotted on 17 October 2024, and trading is expected to resume by the end of the week on 25 October 2024.
Connected IO, transitioning to Connected Minerals Limited, has successfully raised $5.092 million through its fundraising efforts, just shy of their $5.2 million target. The Entitlement Offer, Shortfall Offer, and Placement Offer contributed to this total. The new shares will be issued on 17 October 2024, standing equal with existing shares. The company is working towards meeting ASX conditions for reinstatement, with trading expected to resume by 25 October 2024. This transition signifies a strategic repositioning for the company, and stakeholders can access further information from the ASX or company website.
The company is finalizing the necessary steps to meet the Australian Securities Exchange (ASX) conditions for reinstatement, with an anticipated resumption of trading within the week ending 25 October 2024.