K2fly Limited (ASX: K2F) has entered into an underwriting agreement in respect of the 7,650,000 listed options (ASX: K2FOA) (Options) with K S Capital Pty Limited (Underwriter) up to an amount of AUD1.53 million. The listed options are exercisable at AUD 0.20 per option. This agreement represents approximately 60 per cent of K2FOA Options on the issue.
The options will expire on 18 May 2020.
The Underwriter will be paid a fee of 6% of the underwritten amount, in addition to that will be issued one unlisted option in the Company (with an exercise price of $0.30 each and expiry date of 3 years from the date of issue) for every 4 Options underwritten (New Option).
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