AD1 Holdings Limited (ASX: AD1) (AD1 or the Company) is pleased to announce that it has received firm commitments to undertake a placement to raise over $2.0 million.
The capital raising, at over $2.0 million, will result in the placement and issue of approximately 63.5 million new fully paid ordinary shares in the Company (New Shares) to existing and new institutional and sophisticated investors. The directors of the Company also participated in this capital raising, and their participation will be subject for shareholders’ approval at the upcoming general meeting.
The New Shares will be issued at a price of $0.032 per New Share (Placement). The Placement price of $0.032 represents a discount of 16% to the volume weighted average price of the Company’s shares for the 10 trading days ending on Friday, 15 October 2021.
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