- Skin Elements (SKN) will be raising $1.5 million via a placement and entitlement offer to commercialise its all-natural plant-based SE Formula anti-microbial technology
- Under the placement, 28 million ordinary fully-paid shares will be issued to sophisticated investors at 2.5 cents each to raise $700,000
- The entitlement offer will raise $776,891 with one new share issued for every 15 held at an issue price of 2.5 cents.
- Participants in both the placement and entitlement offer will receive one attaching option for every share subscribed for, exercisable at five cents with expiry on December 31, 2025
- Shares in Skin Elements are down 17.1 per cent to end the day at 2.9 cents
Skin Elements (SKN) will be raising $1.5 million via a placement and entitlement offer to commercialise its all-natural plant-based SE Formula anti-microbial technology.
Under the placement, 28 million ordinary fully-paid shares will be issued to sophisticated investors at 2.5 cents each to raise $700,000.
Participants will also receive one attaching option for every share subscribed for, exercisable at five cents with expiry on or before October 31, 2025.
Lead Manager EverBlu Capital will receive a six per cent fee of the total funds raised as well as two million ordinary fully-paid shares and 28 million options on the same terms.
The entitlement offer will raise $776,891 with one new share issued for every 15 held at an issue price of 2.5 cents.
Participants will also receive one free attaching option for every share subscribed for, exercisable at five cents with expiry on or before October 31, 2025.
The entitlement offer will open on November 21 and close on December 8.
Shares in Skin Elements were down 17.1 per cent to end the day at 2.9 cents.