Flexiroam Ltd (AU:FRX) has released an update.
Flexiroam Ltd has announced a non-renounceable rights issue offer, allowing eligible shareholders to purchase 1 new share for every 18 held at $0.025 each, aiming to raise approximately $1.038 million before costs. Shareholders who fully exercise their rights can also apply for additional shares through a Top-up Facility. The offer, fully underwritten by an entity controlled by the company’s CEO, Stephen Picton, will be open from 5 July 2024 to 18 July 2024.
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