Redflow $14.5m capital raising following strategic review

Company News

by Jessica Amir

Redflow Limited (ASX:RFX) has announced an equity raising of up to $14.5 million, through a share placement to sophisticated and professional investors, as well as a share conversation.

The battery storage manufacturing company says the equity raising follows a detailed and in-depth strategic review of the company, during a challenging and transitional period.

Redflow is issuing the shares at 10 cents per share, which is a 35.48 per cent discount to the closing price of the share traded on 12 July 2017.

The company says the activities that it is undertaking to transition its manufacturing and implement key product cost-down projects are critical to the company’s success.

Shares in Redflow Limited (ASX:RFX) are trading flat at 15.5 cents.


Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.