Join our daily newsletter At The Bell to receive exclusive market insights
- Wiseway Group (WWG) launches a four to 25 pro-rata non-renounceable entitlement offer to raise up to $4 million
- Shares will be priced at 17 cents which represents an 8.1 per cent discount to Wiseway’s closing price of 18.5 cents on May 13
- WWG has entered agreements with Regnans Capital and SG Hiscock & Company with the Regnans to underwrite up to $2.5 million and the latter party to take the remainder
- Wiseway will use the money to pay deposits to secure airline and charter plane relationships and increase working capital required to finance expansion in new routes
- Wiseway ends the day in the grey with shares trading at 18.5 cents
Wiseway Group (WWG) has launched a four to 25 pro-rata non-renounceable entitlement offer to raise up to $4 million.
Shares will be priced at 17 cents which represents an 8.1 per cent discount to Wiseway’s closing price of 18.5 cents on May 13 and a 10 per cent discount to the 30-day volume-weighted average price.
Wiseway has entered agreements with two underwriters to take up any entitlements that aren’t taken up.
Regnans Capital has committed to underwrite up to $2.5 million while SG Hiscock & Company has committed to underwrite any shortfall after Regnans takes up its full amount.
The offer will open on May 24 and close on June 3 with shares to be issued on June 10 and begin trading on the ASX on June 14.
Wiseway will primarily use the money to pay deposits to secure airline and charter plane relationships as well as increase the working capital required to finance expansion into new routes.
Wiseway has ended the day in the grey with shares trading at 18.5 cents.
