As announced on 7 August 2024, Altech Batteries Limited (ACN 125 301 206) (Company or Altech) lodged a prospectus dated 7 August 2024 (Prospectus) with the Australian Securities and Investments Commission (ASIC) in relation to:
a) a pro-rata non-renounceable entitlement issue of 1 fully paid ordinary share in the capital of the Company (Share) for every 8 Shares held by eligible shareholders at an issue price of $0.04, together with 1 free attaching option to acquire a Share (New Option) for every 2 Shares applied for and issued to raise up to $8,552,860 (Entitlement Offer); and
b) an offer of 5,062,500 New Options (Placement Offer) to be issued to the participants of a share placement (Placement),
(together, the Offers).
The Entitlement Offer is partially underwritten by MAA Group Berhad (Registration No: 199801015274 (471403-A)) (MAA or Underwriter) for the amount of $5,000,000 (being 125,000,000 Shares). MAA will receive a cash fee of 6% of the funds raised from the amount underwritten by it.
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