Flexiroam Ltd (AU:FRX) has released an update.
Flexiroam Ltd has announced a non-renounceable rights issue to raise approximately $1.04 million by offering up to 41.5 million new shares at $0.025 each, exclusively to eligible shareholders in select regions. Shareholders have the opportunity to maintain their ownership percentage, with the issue fully underwritten by an entity led by the company’s CEO, ensuring no material effects on company control. However, non-participating shareholders may experience a dilution of approximately 5.26% in their holdings.
For further insights into AU:FRX stock, check out TipRanks’ Stock Analysis page.
