Altech Batteries Limited (Altech or Company) (ASX: ATC) (FRA: A3Y) advises that, in relation to the shortfall for the Company’s pro-rata non-renounceable entitlement offer, pursuant to the Prospectus dated 18 July 2023, Altech has received binding commitments for the shortfall shares, raising gross additional funds of $2,538,000.
Altech has received binding commitments from major German shareholder Deutsche Balaton Aktiengesellschaft, as well as from 180 Markets Pty Ltd, for a total of 36,257,139 shares at $0.07 per share. Shares will be issued to sophisticated and professional investor clients of 180 Markets Pty Ltd. Subject to the funds being received, Altech intends to issue all shares on Wednesday 16 August 2023.
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