Perovskite solar co Dyesol selling over USD 7m in stock
Nov 20, 2015 16:03 CET
November 20 – Dyesol Ltd (ASX:DYE), the Australian firm developing a Perovskite Solar Cell (PSC) technology, aims to raise up to AUD 10 million (USD 7.25m/EUR 6.8m) by selling shares to shareholders and investors.
A share purchase plan (SPP) opened on November 19, allowing existing shareholders from Australia or New Zealand to subscribe to new shares priced at AUD 0.26 apiece. The SPP targets AUD 6 million in proceeds, to support Dyesol’s Technology Development and Business Activity plans and working capital.
The SPP, fully underwritten by PAC Partners Pty Ltd, is expected to close on December 4.
At the same time, the company is planning to attract selected financial institutions, sophisticated and professional investors to subscribe for up to AUD 4 million in stock on similar terms.
The price per share of AUD 0.26 represents a 19% discount to the volume weighted average price (VWAP) of Dyesol’s shares on the Australian Securities Exchange for the 5 trading days immediately prior to November 19.
(AUD 1 = USD 0.725/EUR 0.677)
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