Cleanaway Waste Management to raise AU$50 million via SPP

Following the completion of AU$350 million placement, Cleanaway Waste Management Limited (ASX: CWY) announced the opening of the share purchase plan (SPP). Through SPP, the Company aims to raise ~ AU$50 million. The eligible shareholders will have the opportunity to subscribe up to AU$30,000 worth of new fully paid ordinary shares in the Company at the issue price, without incurring any brokerage or other transaction costs.

The shares would be offered at the issue price of the lower of:

1. AU$2.50, which is same price as that of the placement.
2. The VWAP for the 5 trading days up to, and including, the SPP closing date.

The proceeds of the Placement and SPP will offer CWY with significant balance sheet capacity to fund its BluePrint 2030 strategy.

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