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- ReNu Energy (RNE) raises $2.3 million to advance its Green Hydrogen Pipeline
- The placement will see the issue of 26.4 million new shares at an issue price of 9 cents per share
- Demand for the placement exceeded more than two times the amount raised, and the company welcomes several new funds, family offices and new shareholders to the register
- Proceeds will be applied to progress the company’s portfolio of renewable and clean energy investments
- ReNu Energy shares have ended the day 7.22 per cent in the red at 9 cents
ReNu Energy (RNE) has completed a capital raise of around $2.3 million to advance its Green Hydrogen Pipeline.
The placement will see the issue of 26.4 million new shares at a price of 9 cents per share.
Subscribers will receive one attaching option for every four shares subscribed for with a strike price of 7 cents per share and an expiry date of 31 December.
Demand for the placement exceeded more than two times the amount raised, and the company welcomes several new funds, family offices and new shareholders to the register.
ReNu Energy CEO Greg Watson said the proceeds will be applied to progress the company’s portfolio of renewable and clean energy incubator/accelerator strategy.
“The funds raised from this placement will be used to progress the Company’s compelling portfolio of renewable and clean energy investments,” he said.
“Our focus now is on completing the acquisition of 100 per cent of Countrywide Renewable Hydrogen, advancing the pipeline of green hydrogen opportunities and progressing the company’s other investments.”
Leading Melbourne-boutique, Peak Asset Management, acted as Corporate Advisor and Lead Manager to the capital raising.
ReNu Energy shares ended the day 7.22 per cent in the red at 9 cents at market close.
