GreenHy2 Limited (ASX: $H2G) has announced a capital raising of up to approximately $630,000 through a partially underwritten pro-rata non-renounceable entitlement offer. The offer involves 1 new fully paid ordinary share in the company at an issue price of $0.006 per new share for every 4 fully paid ordinary shares held as at 7:00pm (Sydney time) on Wednesday, 17 April 2024.
The capital raising initiative through the entitlement offer is a strategic move to secure funds for general working capital and the costs of the offer. The issue price of $0.006 per new share represents a discount of 25% to the last closing price of shares on ASX prior to the announcement of the offer. The company is committed to utilizing the proceeds to support its ongoing operations and financial requirements.
GreenHy2 Limited (ASX: $H2G) has announced a capital raising of up to approximately $630,000 through a partially underwritten pro-rata non-renounceable entitlement offer. The offer, priced at $0.006 per new share, represents a discount of 25% to the last closing price of shares on ASX. The company intends to utilize the proceeds to fund general working capital and the costs of the offer. The initiative is partially underwritten to $300,000 by Director Dr Paul Dalgleish's entity, Saint Michael Family Pty Ltd, without any fees payable by the company to the underwriter. The offer is open to eligible shareholders with a registered address in Australia or New Zealand and is non-renounceable and non-tradeable on ASX. The company aims to despatch further information to eligible shareholders on Monday, 22 April 2024, and the offer is set to open on Monday, 22 April 2024, and close on Thursday, 2 May 2024. The indicative timetable for the offer is subject to change, and the company reserves the right to amend the dates and times without notice, in accordance with applicable laws and regulations.