Flexiroam Limited (ASX: FRX) has announced a non-renounceable entitlement offer for eligible shareholders, offering 1 new share for every 1 share held at an issue price of AU$0.005 per share, aiming to raise approximately AU$3.93 million before costs. Eligible shareholders who take up their full entitlements can also apply for additional shares under a Top-Up Facility. The offer period runs from January 16, 2025, to January 30, 2025, unless extended. The offer is partially underwritten up to AU$1 million by Kenn Tat Ong, the company's Executive Director and interim CEO.
The funds raised will be allocated towards contingent loan repayment obligations, covering offer costs, and for general working capital purposes. The entitlement offer forms part of Flexiroam's strategy to support its global data connectivity solutions, spanning 520 network operators in over 200 countries. Shareholders and potential investors are advised to review the offer document and seek professional advice to understand the associated risks and benefits.
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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.
