Highlights
- Closing date of Vertex’s entitlement offer has been extended to 1 May 2024.
- Eligible shareholders can apply for three shares for every five shares held in VTX at an issue price of AU$0.08 apiece.
- The entitlement offer also includes a free attaching option with every three shares issued.
Vertex Minerals Limited (ASX: VTX) has extended the closing date for its entitlement issue, the prospectus for which was issued on 25 March 2024. Under the offer, eligible shareholders can apply for three VTX shares for every five shares held, priced at AU$0.08 per share. The aim of this offer is to raise up to AU$3,683,200 (before costs).
Additionally, every three shares issued comes with one free attaching option, exercisable at AU$0.15 per option on or before the expiry date of 17 July 2027.
The capital raise also includes one option for every three shares subscribed for by the underwriter on the date of issue.
The company has extended the closing date for the offer from 17 April 2024 to 1 May 2024.
Use of funds
The company intends to use the funds in the following manner, assuming the offer is fully subscribed.
Image source: Company update (26 March 2024)
VTX shares trade higher
VTX shares jumped 4.65% to trade at AU$0.090 apiece at the time of writing on 12 April 2024.