At-The-Market equity financing agreement with Dolphin Corporate Investments

Pilot Energy Limited (ASX: PGY) has entered an At-The-Market Subscription Agreement (ATM) with Dolphin Corporate Investments, allowing up to AU$7.5 million in standby equity capital over three years. This agreement offers Pilot a flexible and cost-effective funding option, enabling them to control the timing and volume of capital issuances while minimizing dilution, as there are no attaching options or rights. The Company has complete discretion over utilizing the ATM and can set the issue price floor, either the nominated floor price or a 4.4% discount to the Volume Weighted Average Price (VWAP). The Pilot will place 32,561,791 fully paid ordinary shares as security at no cash consideration. The Pilot can terminate the ATM without penalty, and there are no restrictions on using other capital-raising methods

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