The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Completion of $7.1M Placement and Priority Offer

by July 15, 2024
July 15, 2024

Wide Open Agriculture Limited (ASX: WOA, ‘Wide Open Agriculture’ or the ‘Company’) is pleased to announce the results of the Placement and Priority Offer announced to the ASX on 9 May 2024, raising a total of $7.1M (before costs).

The Company will today issue 310,163,191 fully paid ordinary shares (Shares) at $0.02 per Share under the Tranche 2 Placement Offer and the Priority Offer, and 177,331,596 free attaching Options (Options) to Placement and Priority Offer participants on the basis of 1 Option for every 2 Shares issued to Tranche 1 and 2 Placement participants and Priority Offer Participants. The Options will have an exercise price of $0.03 each with an expiry date of 24 months from the date of issue. The Company will be seeking quotation of the Options. Quotation is anticipated to occur this Wednesday, 17 July.

The Company has received strong support from holders with a total of $0.45M subscribed for under the Priority Offer, with the Company having the right to place the shortfall to the Priority Offer under the Shortfall Offer until 9 October 2024.

The Company also received strong support in the Placement, with a total of $7M in firm commitments being received. Due to the shortfall in the Priority Offer, the total commitments received in the Placement Offer have been required to be scaled back from $7M to $6.64M, as otherwise a substantial shareholder would have acquired a voting power in the Company in excess of 20% in contravention of section 606(1) of the Corporations Act 2001 (Cth). The remainder of the commitment will be completed as part of completion of the Shortfall Offer, subject to compliance with section 606(1).

The issue of the Tranche 2 Placement Shares, Priority Offer Shares and Options were approved by shareholders at the Company’s General Meeting held on 9 July 2024.

Capitalised terms in this announcement have the meaning given to them in the Company’s Prospectus dated 10 May 2024, except as expressly defined otherwise.

This announcement has been authorised and approved in accordance with the Company’s published continuous disclosure policy.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
John Feneck: Gold Miners Set Up for Strong Quarter, Plus 9 Stocks I’m Tracking
next post
Siren Signs Agreement for Sale of Reefton Project for A$20M

You may also like

Secondary Trading Notice

Canada Gears Up for Trump Tariff Retaliation, Critical...

Radiopharm Theranostics Completes A$70 Million Placement

SolGold Secures US$750 Million for Cascabel Project via...

Interim Results for Six-Month Period Ending 30 June...

Amarc Resources Soars After Major Copper-Gold-Silver Discovery in...

TNC Advances Mining and Processing Activities at Cloncurry...

Licence Application Granted around Ulytau Uranium Project

Seequent Unveils Evo: Using Open-source Tech to Reshape...

Stunalara Acceptances Reach 54%

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Metals and Mining Virtual Investor Conference: Presentations Now Available for Online Viewing

    • Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help

    • Trump pushes tax hikes for wealthy as ‘big, beautiful bill’ deadline looms

    • US and other allies of Ukraine pile pressure on Putin, threatening fresh sanctions if he refuses 30-day truce

    • OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’

    Categories

    • Business (1,633)
    • Investing (4,792)
    • Politics (7,541)
    • World (6,130)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top