Metro Performance Glass (ASX:MPP) announced a significant update on its capital raising strategy. Discussions with Cowes Bay have ended due to disagreements on key terms. The company is now engaging with four potential investor groups to progress with a rights offer. Conditional offers to underwrite $15 million have been received.
Metro Performance Glass has shifted its capital raising approach following unsuccessful negotiations with Cowes Bay. The company is prioritizing a diversified investment strategy by engaging with four potential investor groups, which could result in a supported rights offer. The conditional underwriting of $15 million signifies confidence in their financial strategy. Moving forward, Metro Performance Glass aims to finalize a formal rights offer to strengthen its capital base and support corporate growth.
Metro Performance Glass continues to be proactive in pursuing alternative financial strategies to support its capital raising efforts.