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Highlights
- In a well-supported placement, the company has raised AU$0.6 million.
- To raise additional AU$0.5 million, the company would issue further 8.33 million shares under placement.
- Funds raised would be directed towards accelerating developments at the Kentucky facility.
Carbonxt Group Limited (ASX: CG1) has reported the successful completion of a placement, raising AU$0.6 million, before costs. Under the placement, 10 million new shares have been issued at a price of AU$0.06.
The placement is part of the capital raise designed to raise ~AU$2.94 million via the placement and a non-renounceable entitlement offer.
The company informed that it would make a further placement of 8.33 million shares to Pure Asset Management as a part of the capital raise, to raise further AU$0.5 million. This placement is due in January 2024 along with the allotment of shares under the entitlement offer.
Funds raised via the capital raise will be directed towards the development of the Kentucky Facility.
CG1 shares traded at AU$0.065 apiece at the time of writing on 6 December 2023.
