Rubicon Water Announces AU$16 million Placement to Reduce Debt and Fund Growth

Rubicon Water Limited (ASX: RWL) has announced a fully underwritten two-tranche placement to raise AU$16.0 million by issuing approximately 64.0 million shares at AU$0.25 each, a significant discount to previous closing prices. The fundraising efforts are backed by institutional and high-net-worth investors, alongside commitments from Rubicon's board and key management, who plan to invest up to AU$9.2 million, pending shareholder approval at an extraordinary general meeting on September 11, 2024.

The net proceeds will primarily be utilized to reduce debt and create financial capacity for upcoming international growth projects. The company is also planning a non-underwritten Share Purchase Plan to raise an additional AU$2.0 million. This strategic move will enhance Rubicon Water's operational stability while supporting its expansion initiatives.

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