Acrow Formwork and Construction Services Limited (AU:ACF) has released an update.
Acrow Formwork and Construction Services Limited has secured a full underwriting from Morgans Corporate Limited for a $7.6 million shortfall in its Dividend Reinvestment Plan, coinciding with the company’s growth and new product introductions. This financial move will provide Acrow with balance sheet flexibility to capitalize on new opportunities. The agreement ensures that all shares not acquired through the DRP will be purchased at a 2.5% discount, strengthening the company’s capital position as it continues to innovate and expand.
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