DroneShield Limited (ASX: DRO) announced that it had received firm commitments from sophisticated, professional, and institutional investors to raise AU$10.9 million via the placement. The placement includes the issue of approx. 36.3 million fully paid ordinary shares at an issue price of AU$0.30 per new share, and the issue price represents an 18.9% discount to the closing price and a 19.9% discount to the 5-day volume-weighted average price (VWAP).
In combination to the placement, the company also announced a Share Purchase Plan (SPP), in which Eligible Shareholders offered the opportunity to apply for up to AU$30,000 worth of the company’s shares to potentially raise approx. AU$3.0 million. Funds raised from the placement and SPP will be used to increase the company’s inventory for rapid fulfillment of larger contracts, scaling of its engineering, manufacturing and sales teams, and for the general working capital requirements.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
