Centrex Raises $16m via placement and entitlement offer
- Centrex (CXM) aims to generate $16 million in its capital raise to advance its flagship Ardmore phosphate rock project in Queensland
- The raise will be via a binding placement from investors and a newly-launched entitlement offer to eligible shareholders
- The issue price of the entitlement offer represented a 33.3 per cent discount to the last traded price on April 1 and an 11.8 per cent discount to the 15-day volume-weighted average price
- The entitlement offer will open on April 11 to eligible shareholders to raise a further $8 million, launching a five for 42 pro-rata, non-renounceable offer
- CXM shares are down 21.4 per cent, trading at 16.5 cents
