Details of Ignite's accelerated pro-rata entitlement offer

Ignite Limited (ASX:IGN) has announced an accelerated pro-rata non-renounceable entitlement offer to raise up to approximately $4.45 million. Eligible shareholders will have the opportunity to subscribe for 1 fully paid ordinary share for every 1 existing fully paid ordinary share in the Company held as at 7.00pm AEST on 27 November 2023, at an issue price of $0.05 per New Share.

Executive commentary on the entitlement offer

The Company is pleased to announce the accelerated pro-rata entitlement offer, which will provide eligible shareholders with the opportunity to participate in the capital raising initiative. This offer aims to raise funds to support the Company's strategic initiatives and further strengthen its financial position. We believe that the Entitlement Offer will enable us to pursue growth opportunities and enhance shareholder value.

Summary of Ignite's accelerated pro-rata entitlement offer

Ignite Limited (ASX:IGN) has initiated an accelerated pro-rata entitlement offer to raise up to approximately $4.45 million through institutional and retail entitlement offers. The offer will allow eligible shareholders to subscribe for 1 fully paid ordinary share for every 1 existing fully paid ordinary share at an issue price of $0.05 per New Share. The Company aims to utilize the proceeds to support its strategic initiatives and strengthen its financial position. The Entitlement Offer is structured to provide existing shareholders with the opportunity to participate in the capital raising while maintaining the Company's control and ensuring compliance with relevant regulations. This initiative reflects the Company's commitment to enhancing shareholder value and pursuing growth opportunities.