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Genex Power: Raises $22.276M

August 10, 2020

Renewable energy company Genex Power (GNX) has successfully raised $21.276 million through a placement
More than 96 million shares will issued to existing and new sophisticated and institutional shareholders at a price of 22 cents each
The company will now be undertaking a share purchase plan (SPP) to raise an additional $7 million
Then the placement expected to completed on August 14, with shares to issued on August 17
Given the strong demand for the placement, Genex also said it will now be undertaking a share purchase plan to raise an additional $7 million
Eligible shareholders will be able to subscribe for up to $30,000 worth of shares at the same price of 22 cents each