FBR Limited (AU:FBR) has released an update.
FBR Limited has successfully completed a $12.5 million capital raise through a share placement to new and existing investors, boosting its financial position ahead of significant milestones, including a demonstration program in Florida and a potential joint venture with CRH Ventures. The placement will issue about 328.9 million shares at a discounted price and is expected to help fund the deployment of the Hadrian X robots, with the company’s post-transaction cash balance projected to be A$16.2 million. Strong investor support for this placement indicates confidence in FBR’s growth and upcoming strategic initiatives.
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