Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.
Under the offer, Blackham will issue five shares for every four shares held, at a price of 1.5 cents, which is a 44.4 per cent discount to its previous closing price of 2.7 cents each.
It will also issue one free attaching option for every three of the entitlement shares issued, with each option being exercisable at 3 cents each at an expiry date of October 12 2020.
MACA has agreed to sub-underwrite up to $7.5 million of the entitlements issue, with MACAs participation to be applied to a reduction of the trade receivable balance owing t…
Read the full article at: https://www.businessnews.com.au/article/Blackham-to-raise-26m-to-help-pay-off-debts