ReNu Energy announced it has received firm commitments for a capital raising of $500,000 (before costs) through the issue of approximately 45.5 million new ReNu Energy shares (New Shares) at an issue price of $0.011 per share by way of placement to professional, sophisticated and other investors to whom no disclosure is required under the Corporations Act 2001 (Cth) (Placement).
The Placement will raise additional funding for ReNu Energy following its 1 for 2.46 pro rata, non- renounceable entitlement offer, which closed on 8 December 2023. The proceeds of the Placement and entitlement offer will be used by ReNu Energy to fund progress of its flagship Tasmanian green hydrogen projects and for general working capital.
PAC Partners Securities Pty Ltd acted as Lead Manager to the Placement.
The New Shares will be issued without shareholder approval, utilising ReNu Energy’s placement capacity under Listing Rule 7.1 and enhanced placement capacity under Listing Rule 7.1A. The expected issue date of the New Shares is 14 December 2023. The New Shares will rank equally with existing ReNu Energy shares.
The Appendix 3B follows.
This announcement has been authorised for release to ASX by the Board of ReNu Energy.
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Press release https://is.gd/l8HcBi