- Pearl Global (PG1) enters a non-refundable entitlement offer in hopes of raising $5 million dollars before offer costs
- The offer opened at 9 am AEDT on December 24 and will close at 5 pm AEDT on January 13, 2022
- Eligible shareholders can subscribe for one new ordinary share for every 2.6 shares held at 7 pm AEDT on Wednesday 22 December with the issue price of $0.02 per new share
- Funds raised will be used for equipment, site infrastructure including associated capital expenditures and expenditure and general working capital requirements and costs of the entitlement offer.
- Pearl Global shares are grey and last traded at 2.2 cents apiece
Pearl Global (PG1) has entered a non-refundable entitlement offer in hopes of raising $5 million dollars before offer costs.
The offer opened at 9 am AEDT on December 24 and will close at 5 pm AEDT on January 13, 2022.
The entitlement offer has not been underwritten.
The offer gives eligible shareholders the opportunity to subscribe for one new ordinary share for every 2.6 shares held at 7 pm AEDT on Wednesday 22, December with the issue price of $0.02 per new share.
PG1’s offer price was calculated at a 25.9 per cent discount to the last traded price of shares on December 14 and a 28.5 per cent discount to the five-day volume-weighted average price on the last day of trading prior to the offer.
According to the announcement by Pearl Global, the anticipated $5 million raised will be used for equipment, site infrastructure including associated capital expenditures and expenditure and general working capital requirements and costs of the entitlement offer.
Eligible shareholders who access their entitlement in full have been invited to apply for additional new shares, valuing up to 200 per cent of their entitlement.
This will be the case if eligible shareholders do not take up their entitlement offer for additional shares, this is subject to scale back.
Pearl Global shares were grey and last traded at 2.2 cents apiece at 10:18 am AEDT.