Finder Energy Holdings Limited (AU:FDR) has released an update.
Finder Energy Holdings Limited is set to raise $6 million through a 1 for 1.26 Entitlement Offer of new shares at a discounted price of $0.048 each, aimed at funding the company’s acquisition of a 76% interest in an offshore project. Major shareholder Longreach Investment Capital committed to fully participate, with other shareholders given a chance to avoid dilution by subscribing in full, plus an option to request additional shares. The offer is non-underwritten, with detailed participation instructions to be provided in an upcoming Offer Booklet.
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