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Successful Completion of Public Shortfall Offer

by
October 23, 2024
in Economy
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Successful Completion of Public Shortfall Offer

Prodigy Gold NL (ASX: PRX) (“Prodigy Gold” or the “Company”) is pleased to advise that it has received firm bids for the remaining shortfall (Shortfall Placement) from its recent Entitlement Offer to raise a further approximately $1,677,532 (before expenses) at the issue price of $0.002 per Share. This will bring the total capital raised under the Rights Issue to approximately $2,106,894 (before expenses).

This Shortfall Placement forms part of the non-renounceable pro rata entitlement offer, of one (1) new fully paid ordinary shares in Prodigy (Share) for every two (2) Shares held at an issue price of $0.002, together with two (2) unquoted Attaching Options for every three (3) New Shares issued, which was announced on 20 August 2024 (Entitlement Offer) and closed on 26 September 2024.

The Directors engaged Ignite Equity Pty Ltd as lead manager to place the shortfall of 838,765,902 Shares not subscribed for pursuant to the Entitlement Offer and Shareholder Shortfall Offer, together with two (2) unquoted Attaching Options for every three (3) New Shares placed for nil additional consideration (Public Shortfall Offer). The Attaching Options have an exercise price of $0.005 and are exercisable at any time prior to 5:00pm (Sydney time) on 30 November 2027.

Ignite Equity Pty Ltd (ACN 658 888 601), will be paid a 2% management fee plus a 4% capital raising fee on introduced funds. The Shares and Attaching Options will be issued once the funds have been received which is anticipated within approximately one week.

The Board wishes to thank all existing and new shareholders who have participated in the Entitlement Offer and the Shortfall Placements.

This announcement has been authorised for release by Prodigy Gold’s Board of Directors.

Click here for the full ASX Release

This post appeared first on investingnews.com
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