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Carbonxt Group (ASX: CG1) announces completion of AU$1.84M entitlement offer - Kalkine Media

January 22, 2024 12:35 PM AEDT | By Sonal Goyal
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Highlights

  • Carbonxt has completed a non-renounceable pro-rata entitlement offer, which was announced in December 2023.
  • Through the entitlement offer, the company raised AU$1.84 million before costs.
  • The funds will be directed towards the company’s Kentucky facility.

Carbonxt Group Limited (ASX: CG1) has completed the non-renounceable pro-rate entitlement offer announced in December 2023. The offer gave the eligible shareholders an opportunity to apply for one new share in the company for every nine shares held by them at AU$0.06 per share offer price.

Under the offer, 30,589,440 new shares would be issued, raising AU$1.84 million before costs. On 25 January 2024, holding statements are expected to be despatched.

In early December last year, the company also raised AU$0.6 million through a placement.

The funds raised are planned to be used for accelerating construction at the company’s flagship activated carbon production facility in Kentucky, in the US.

CG1 shares traded at AU$0.07 apiece on 19 January 2024.


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