- Boss Energy (BOE) has had big demand from its shareholders in the share purchase plan (SPP)
- The company was aiming to raise $5 million in the SPP, however it has had applications totalling $17.6 million
- Boss says the applications will be scaled back in accordance with terms in the SPP
- The funds will be used to develop the Honeymoon uranium project in South Australia
- Boss Energy shares are up 9.03 per cent and trading at $2.60
Boss Energy (BOE) has seen huge demand from shareholders for its share purchase plan (SPP).
The company was aiming to raise $5 million in the SPP, however applications totalled $17.6 million.
Boss says the applications will be scaled back in accordance with terms with the SPP.
The SPP comes after the $120 million placement for its Honeymoon uranium project in South Australia.
Under the SPP, eligible shareholders were able to purchase up to $20,000 worth of shares at $2.15 each.
Boss said the shares will be issued on Friday, and commence trading on Monday, April 11.
Just like the placement funds, SPP funds will also be used in the development of Honeymoon.
The company thanked shareholders for their ongoing support as it moves towards a final investment decision and becomes “Australia’s next uranium producer”.
On the market, Boss Energy were up 9.03 per cent and trading at $2.60 at 2:10 pm AEST.