Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) in conjunction with Altech Advanced Materials AG (AAM) is pleased to provide an update on AAM’s capital raising initiatives.
On 17 January 2020 AAM announced that Stage 1 of its capital raise, a 40:1 rights offer to existing shareholders at a price of €1.10 per new share had resulted in subscriptions for approximately €2.0 million of new shares and had been registered on 16 January 2020. As AAM had ~1.5m shares on issue, and approximately 100 predominantly retail shareholders eligible to participate in the rights offer, funds raised via the offer was in line with expectations.
For further information, please refer to the attached PDF.
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