Connect with us

Hi, what are you looking for?

Trade News

Successful Completion of Tranche 1 Share Placement

Lithium Universe Limited (referred to as ‘Lithium Universe’ or the ‘Company,’ ASX: ‘LU7”) is pleased to announce that further to its announcement dated 31 October 2024 (ASX:LU7 LU7 Completes Share Placement and Launches Entitlement Offer) (Announcement), it has now settled the first tranche of its share placement to sophisticated and professional investors (Tranche 1).

Highlights

Successful settlement of Tranche 1 of the share placement to sophisticated and professional investors, raising $1.94 million Entitlement Offer to open to shareholders on 11 November 2024 Tranche 2 of the Placement (subject to shareholder approval) is anticipated to be completed on or around 9 December 2024, raising $0.20 million

Tranche 1 under the Company’s Placement comprised of 161,791,667 fully paid ordinary shares (Shares), which have been issued today under the Company’s existing capacities under Listing Rules 7.1 (15% capacity) and 7.1A (10% capacity). The Shares were issued at a price of A$0.012 per share, raising A$1,941,500. In addition, subject to shareholder approval, the Tranche 1 investors will be entitled to one new option for every share subscribed to, with an expiry date of 12 January 2026 and an exercise price of $0.03 (Options).

As detailed within the Announcement, the Company advised that it would be conducting an additional placement to sophisticated and professional investors, which will be subject to shareholder approval (Tranche 2), as well as a pro-rata 1 for 10 non-renounceable entitlement offer (Entitlement Offer). Investors under the Tranche 2 placement and Entitlement Offer will also receive options on the same term as the Tranche 1 investors.

Tranche 2 Placement

The Tranche 2 placement comprises of 16,666,667 shares, with the issue of such shares being subject to shareholder approval. The Company will seek shareholder approval at an upcoming general meeting, which is scheduled to be held on or around Monday, 9 December 2024.

Entitlement Offer

The Entitlement Offer will open on Monday, 11 November 2024 and has been made under a transaction-specific prospectus that was lodged with ASIC and ASX on 1 November 2024.

Click here for the full ASX Release

This post appeared first on investingnews.com

You May Also Like

Stock News

​​​EUR/USD holding steady ​The EUR/USD currently shows little hesitation ahead of the European Central Bank (ECB) meeting on Thursday, holding around the $1.09 level....

Stock News

Fed Chair Powell sounded dovish, stating that the three latest US inflation readings “add somewhat to confidence inflation is returning to 2%” US retail...

Stock News

The European Central Bank (ECB) is expected to keep rates unchanged a month after it cut interest rates for the first time five years....

Stock News

​​​Microsoft ​While Microsoft’s software was not responsible for the outage, its Windows system has been seriously affected, with systems crashing in companies across the...