Overview of Eden Innovations Ltd's Rights Issue announcement

Eden Innovations Ltd (ASX: $EDE) has announced a non-renounceable pro-rata Rights Issue, offering up to approximately 1,839,135,558 New Shares on the basis of one new Share for every two Shares held by Qualifying Shareholders as at 5:00pm WST on the Record Date. The issue price is set at $0.002 per Share, with an additional EDEOD Option offered for every two Shares acquired, free of charge. If fully subscribed, the Rights Issue is expected to raise up to approximately $3,678,271 before expenses.

Executive Commentary on Eden Innovations Ltd's Rights Issue

The company's Chairman has provided a letter to shareholders, outlining the company's progress and prospects. Eden Innovations has made significant advances in developing and expanding global markets for its products, including the EdenCrete range and OptiBlend® dual fuel technology. The company's largest shareholder, Noble Energy Pty Ltd, intends to take up its Entitlements under the Rights Issue. Additionally, Copeak Pty Ltd has been appointed as the lead manager of the Offers.

Summary of Eden Innovations Ltd's Rights Issue announcement

Eden Innovations Ltd (ASX: $EDE) is conducting a non-renounceable pro-rata Rights Issue, allowing Qualifying Shareholders to take up their Rights, take up part of their Rights, or do nothing. The company's pyrolysis process is highlighted for its efficiency in producing carbon nanotubes and hydrogen. EdenCrete, a carbon nanotube-enriched liquid admixture for concrete, and other products like OptiBlend and EdenPlast are also discussed. The Rights Issue, if fully subscribed, will raise up to approximately $3,678,271 before expenses. The company's unaudited pro-forma consolidated balance sheet as at 31 December 2023 is provided for illustrative purposes. Shareholders are encouraged to review the Prospectus for detailed information on the Rights Issue and the company's future plans.