Pieridae Energy (TSE:PEA) has released an update.
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Pieridae Energy successfully closed a $29 million equity rights offering, strengthening its financial position by reducing debt and funding high-impact optimization projects. The offering led to the issuance of 118.5 million common shares, with AIMCo becoming a significant shareholder, now owning approximately 47% of the company.
For further insights into TSE:PEA stock, check out TipRanks’ Stock Analysis page.