DigitalX (ASX:DCC) has introduced a pro rata non-renounceable Rights Issue for its eligible shareholders. The offer involves 1 new share for every 8 shares held, priced at $0.047 per new share. The initiative aims to raise about $5.09 million before costs.
DigitalX (ASX:DCC) is conducting a non-renounceable Rights Issue, offering 1 new share for every 8 shares at $0.047, aiming to raise $5.09 million. The offer opens on December 31, 2024, and closes on January 24, 2025, with results announced on February 3, 2025. The funds will primarily support the expansion of digital asset services, accounting for 78.4% of the raised amount, along with working capital and offer expenses. Only shareholders in Australia and New Zealand are eligible to participate. Non-participating shareholders will face an 11.11% dilution. The offer complies with regulatory standards, without requiring a prospectus. Post-offer, cash in hand is expected to increase to $18.26 million, with net assets reaching $62.9 million. The initiative is part of DigitalX's strategy to enhance its digital asset capabilities amidst market volatility and regulatory challenges.
The funds raised will be used for expanding digital asset staking and validation services, working capital, and covering the expenses of the offer.