rlf agtech raises $4.5m in placement
RLF AgTech (ASX:RLF) has secured approximately $4.5 million through a placement. The funds are intended to bolster raw material stocks, and also fund capital expenditure and improve the company's balance sheet. The placement involved roughly 90.4 million new shares. The offer price was A$0.050 per share. This reflects a 15.3% discount from the last closing price and a 12.1% discount from the 5-day VWAP. Not applicable: No direct quote available in the announcement. The proceeds from the placement are earmarked for several key areas. A significant portion will support raw materials and manufacturing. Additionally, funds will be allocated to capital expenditure, human resources, and the balance sheet. The company stated the newly issued shares will rank equally with existing shares. Unified Capital Partners Pty acted as the placement's lead manager.
The placement involved roughly 90.4 million new shares. The offer price was A$0.050 per share. This reflects a 15.3% discount from the last closing price and a 12.1% discount from the 5-day VWAP.
Not applicable: No direct quote available in the announcement.
The proceeds from the placement are earmarked for several key areas. A significant portion will support raw materials and manufacturing. Additionally, funds will be allocated to capital expenditure, human resources, and the balance sheet.
The company stated the newly issued shares will rank equally with existing shares. Unified Capital Partners Pty acted as the placement's lead manager.