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HomeBusinessGenex Power: Raises $22.276M

Genex Power: Raises $22.276M

Date:

  • 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

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