Tuesday, February 7, 2023

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Redflow: Completed its capital raise

  • Battery manufacturer Redflow (RFX) has finally completed its capital raise, walking away with $6.9 million in additional funds
  • The company first announced it was raising equity back in June, seeking between $6.25 million to $22.9 million in extra cash
  • The entitlement offer was extended for a period before two shortfall facilities were announced as well
  • The latest shortfall placement saw investors buy up $1.6 million shares at 2.5 cents each
  • Redflow plans to use the capital raise funds to accelerate the development of its Gen3 Battery
  • Shares in RFX have ended the week trading down 6.67 per cent at 2.8 cents each

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