Altech Batteries Limited has announced a share placement to raise AU$4 million

Altech Batteries Limited (ASX: ATC) announced an AU$4 million capital raising. This will involve the issuance of 66,666,667 fully paid ordinary shares at an attractive price of AU$0.06 per share, a compelling 50% premium over the price offered to shareholders during its recent Entitlement Offer on 07 August 2024. Investors participating in this placement will benefit from one free attaching listed option for every share issued. Each option will have an exercise price of AU$ 0.06 and an expiry date of 31 December 2025.

This placement at AU$ 0.06 signifies a strategic move reflecting the growth potential. Altech does not plan to initiate another Entitlement Issue at this increased price, ensuring current opportunities are optimally leveraged.

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