FBR's strategic financial move

FBR (ASX:FBR) has announced a fully underwritten Share Purchase Plan (SPP) to raise $8 million. The plan allows existing shareholders to purchase new shares at a discounted price of $0.038 per share. The funds will be used to provide working capital, support their Florida Demonstration Program, and potentially activate a joint venture with CRH Ventures.

FBR's financial strategy and goals

FBR (ASX:FBR) is leveraging a Share Purchase Plan to secure $8 million in funds. This initiative supports their ongoing projects, including the Demonstration Program in Florida, and provides potential for a joint venture with CRH Ventures. The plan offers shares at a noteworthy discount, exclusively to Australian and New Zealand shareholders. Fully underwritten by Bell Potter Securities Limited, the SPP underscores FBR's commitment to expanding its technological reach and enhancing its financial stability. With key dates set for November and December 2024, the company is focused on strategic growth and operational milestones.

Executive insights on SPP initiative

The Share Purchase Plan is a strategic step to ensure we have the necessary funds to complete our ongoing projects and explore potential opportunities in the US market. The support of our shareholders is crucial as we continue to develop and deploy our technology globally.