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Altech Batteries (ASX: ATC) to Raise AU$8.5Mn, Extends Entitlement Offer Deadline

August 27, 2024 04:44 AM AEST | By Aditi Sarkar
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 Altech Batteries (ASX: ATC) to Raise AU$8.5Mn, Extends Entitlement Offer Deadline
Image source: Company update

Highlights

  • Altech has extended the AU$8.5 million Entitlement Offer deadline to 10 September 2024.
  • MAA Group Berhad has partially underwriten AU $5 million of the Entitlement Offer.

Altech Batteries Limited (ASX:ATC) has announced an important update on its AU $8.5 million Entitlement Offer. In response to feedback from several shareholders about not receiving their personalised application forms, the board has decided to extend the offer period by one week. The revised closing date for the Entitlement Offer is 10 September 2024.

The Entitlement Offer is partially underwritten to AU$ 5 million by existing shareholder MAA Group Berhad, which is associated with Altech Director Tunku Yaacob Khyra.

This extension will allow all shareholders to receive their forms and participate in the capital raising process. The revised timetable for the completion of the Entitlement Offer is as follows:

*The above dates are indicative only and may change without prior notice. Any change in the timetable does not affect any rights or obligations you have as a result of accepting the Entitlement Offer.
** Subscribers under the Entitlement Offer should ensure that they have made payment pursuant to their Application Form by this date.

The funds raised will be used to advance the CERENERGY® and Silumina AnodesTM Projects.

ATC shares traded at AU$0.039 at the time of writing on 27 August 2024.

 


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