Bryon to raise ~A$25.9 million via Placement and Fully Underwritten Entitlement Issue

  • Nov 15, 2019 AEDT
  • Team Kalkine

Byron Energy Ltd (ASX: BYE) has received commitments from institutional and sophisticated investors for a Placement of ordinary shares in Byron to raise ~ A$14.5 million (before cost).

It has also launched a fully underwritten 1 for 18 pro-rata non-renounceable entitlement offer to the eligible shareholders to raise ~ A$11.4 million.

The funds raised through Placement and Fully Underwritten Entitlement Issue along with recently announced US$15 million debt from Crimson Midstream, will help the company in accelerating the development of the SM58 field after the success of SM58 G1 well and in the proposed additional drilling at the SM71 field.


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