Gold Road Resources
(ASX:GOR) has announced the finalisation of its Retail Entitlement Offer, thereby completing its equity raising.
The Retail Entitlement Offer, which closed on Monday, raised around $17 million at $0.44 per new share.
The company received approximately $11 million worth of valid applications from eligible retail shareholders.
Institutional investors, who acted as sub-underwriters for the equity raising, were allocated the remaining $6 million which was not taken up by Gold Road’s existing shareholders.
Gold Road reported a net loss of $2.6 million at 31 December 2015.
