PhosCo Ltd (ASX: PHO) has launched a 1-for-2.84 non-renounceable entitlement offer to raise approximately AU$5.04 million, fully underwritten by Westar Capital Limited, with Cumulus Wealth Pty Ltd as the sole Lead Manager and priority sub-underwriter. Eligible shareholders subscribing to their full entitlement can apply for oversubscriptions, raising an additional AU$1 million, bringing the total potential capital raise to AU$6 million.
New shares are priced at AU$0.05, representing a 28.8% discount to the last trading price. The funds will be used for exploration work, metallurgical testwork, and updating the Gasaat and Sekarna Exploration Permits’ scoping study, alongside covering offer costs and working capital. Additionally, up to 51.45 million Conversion Options will be issued to converting note holders, and 3 million Lead Manager Options will be granted as part of the Lead Manager’s remuneration.
Customer Notice:
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.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Mar 12, 2025
Mar 12, 2025
Mar 12, 2025
Mar 12, 2025
Mar 12, 2025
Mar 12, 2025
Mar 12, 2025
Mar 12, 2025
Mar 12, 2025
Mar 11, 2025
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.
