NAOS Ex-50 Opportunities SPP results

NAOS Ex-50 Opportunities Company (ASX:NAC) has announced the results of its Share Purchase Plan (SPP), which ended on November 5, 2024. The company raised approximately $2.4 million, with 5,317,507 shares subscribed at $0.45 per share. The SPP was capped at $5 million, and 189 applications were received, representing about 19% of the shareholder base.

Overview of NAOS Ex-50 Opportunities SPP

NAOS Ex-50 Opportunities Company (ASX:NAC) successfully concluded its Share Purchase Plan (SPP), raising approximately $2.4 million through the subscription of 5,317,507 shares at a fixed price of $0.45 per share. Although the SPP was capped at $5 million, the company received a robust response with 189 applications, indicating a strong engagement from its shareholder base. Notably, all company directors participated in the SPP, reflecting solid internal support. The new shares are scheduled for issuance on November 8, 2024, and will commence trading on the ASX from November 11, 2024. The board expressed gratitude to shareholders for their participation and support, which is pivotal in the company's future growth and strategic objectives. This capital raising is expected to aid the company in achieving its corporate strategies and objectives, demonstrating the confidence and backing of its shareholders.

Executive commentary on SPP outcome

The board is grateful to participating shareholders for their continued support.