NSX Limited (ASX: NSX) announced that it had received commitments from investors aligned with the growth strategy of NSX to raise AU$2.65 million via a placement. The placement comprised the issue of approx. 58,888,891 fully paid ordinary shares at an issue price of AU$0.045 per new share.
In addition to the placement, the company launched a 1:5 pro rata non-renounceable entitlement offer of approximately 68 million new shares to Eligible Shareholders to raise approx. AU$3.1 million. The issue price represents a discount of approx. 21% to the last traded price of 5.7 cents on 11 August and 13% premium to the 45-day VWAP of the shares of 3.98 cents as traded on the ASX.
The fund raised via both placement and entitlement offer will be used to increase business development, further progress the proposed joint venture in the Kingdom of Saudi Arabia, the establishment of licences associated with the operation of a market in securities for wholesale and sophisticated investors, regulatory capital requirements and other working capital requirements to operate and support the business.
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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.
