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Triple Energy Limited ( (AU:HYT) ) just unveiled an update.
HyTerra Ltd has launched a pro rata non-renounceable entitlement offer to raise up to approximately $7.0 million, issuing three new shares for every ten held by eligible shareholders at $0.014 per share. The funds are earmarked primarily for drilling and testing, leasing high-priority areas, data acquisition, working capital and offer costs, with the offer open to investors in multiple jurisdictions and not underwritten.
Up to about 500.3 million new shares may be issued, and shareholders who do not participate will face dilution of their equity stakes. Any shortfall from the entitlement offer will be available under a separate shortfall offer at the same issue price, with directors retaining discretion over allocation, and a detailed prospectus and timetable guiding the offer process and key dates.
More about Triple Energy Limited
HyTerra Ltd is an Australian-listed energy company focused on leasing and exploring high-priority areas, with core activities in drilling and testing prospective acreage. The company targets growth through the acquisition and assessment of geological and geophysical data, while maintaining flexibility to pursue new opportunities within its resource portfolio.
Average Trading Volume: 1,496,871
Technical Sentiment Signal: Sell
Current Market Cap: A$25.02M
For an in-depth examination of HYT stock, go to TipRanks’ Overview page.