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The latest update is out from Aluula Composites Inc ( (TSE:AUUA) ).
ALUULA Composites Inc., a company listed on the TSXV, successfully completed an over-subscribed rights offering, raising $2,506,156.16. The offering saw a 96% exercise rate and exceeded expectations with an additional 301,180,394 shares oversubscribed, closing without requiring the standby commitment. The proceeds will be used to repay debts, invest in R&D and production equipment, explore alternative manufacturing methods, and for general corporate purposes. This success reflects confidence in ALUULA’s products and strategy, marking a significant step in the company’s growth efforts.
More about Aluula Composites Inc
YTD Price Performance: 0%
Average Trading Volume: 670,838
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$6.53M
See more insights into AUUA stock on TipRanks’ Stock Analysis page.