Smart building materials company ClearVue Technologies Limited (ASX:CPV) (ClearVue or the Company) is pleased to announce that it has received firm commitments from professional and sophisticated investors to raise approximately $3m (before costs) via a placement (Placement).
Under the Placement 31,998,787 new fully paid ordinary shares (New Shares) are expected to be issued at $0.095 per New Share. The issue price represents a discount of 17.4% to ClearVue’s last close (11 August 2020) of $0.115 per share and a 13.1% discount to the 5-day VWAP of $0.1093 per share prior to the date of this announcement.
27,288,260 of the New Shares are expected to be issued on 24 August 2020 using the Company’s existing placement capacity with 16,672,956 New Shares to be issued pursuant to ASX Listing Rule 7.1 and 10,615,304 Shares to be issued pursuant to ASX Listing Rule 7.1A.
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