Pacific Edge Ltd Announces Completion of Placement
Pacific Edge Limited (NZX: PEB) is pleased to announce the successful completion of its $7m underwritten placement announced on 21 November 2019, with strong support from new and existing investors, both in New Zealand and internationally. Approximately 46.7 million shares will be issued at the offer price of $0.15 per share. Settlement and allotment of the new shares will occur on 26 November 2019.
Pacific Edge Chairman Chris Gallaher said “We are pleased with the support we have received from investors for the first phase of our capital raising, reflecting their confidence in our strategy and our future prospects. We are delighted to welcome a number of new local and international investors to our register, alongside strong support from our existing shareholders.”
The fully underwritten, pro rata renounceable 1 for 4.25 Rights Offer component of the capital raising, at $0.10 per share, will open for rights trading on 28 November 2019. Eligible shareholders holding shares at 5.00pm on the record date of 29 November 2019 will be able to participate in the Rights Offer.
The Offer Document and the Entitlement and Acceptance Form will be released on NZX on 28 November 2019. Eligible shareholders will be able to participate by applying at http://pacificedgeshareoffer.co.nz or returning their Entitlement and Acceptance Form to the registrar with payment for their new shares.
Pacific Edge shares will recommence trading upon market opening today.