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HomeFinTechVintage Energy: Raises $3.4m in oversubscribed SSP

Vintage Energy: Raises $3.4m in oversubscribed SSP

Vintage Energy Raises $3.4m in oversubscribed SSP

  • Vintage Energy (VEN) raises $3.44 million through an oversubscribed share purchase plan (SPP)
  • The funds raised will mostly be used to fund exploration and appraisal activities
  • The company was originally aiming to raise $2 million but has elected to accept all eligible applications
  • VEN will issue about 40.5 million new shares at a price of $0.085 each
  • In total, the company has raised $12 million from the SPP and a placement that was completed last month
  • Shares were in the grey at 8.4 cents
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