Redflow Launches Major Entitlement Offer

Redflow Limited (AU:RFX) has released an update.

Australian company Redflow Limited, known for its innovative zinc-bromine flow batteries used in energy storage, has launched an entitlement offer to raise approximately $13.6 million. The offer allows existing shareholders to buy one new share at 11.5 cents each for every two shares they own, with the addition of an option for every two new shares allotted. The offer, which opened today, aims to enhance the company’s financial position and will close on 21 May 2024.

For further insights into AU:RFX stock, check out TipRanks’ Stock Analysis page.