Icon Energy Limited (AU:ICN) has released an update.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Icon Energy Limited has announced a debt conversion and conditional placement agreement with an investor involving the issue of 50 million shares to convert a $300,000 loan into equity and an additional agreement for the investor to purchase up to $600,000 in further shares, subject to shareholder approval. The shares will be issued at prices dependent on trading status and recent volume-weighted average prices, with the aim of managing the company’s debt obligations without exceeding a 19.99% ownership threshold for the investor.
For further insights into AU:ICN stock, check out TipRanks’ Stock Analysis page.