viewAeris Resources Ltd

Aeris Resources completes retail shortfall bookbuild as part of $40 million capital raising

Completion of the retail shortfall bookbuild together with the institutional placement and amounts raised under the entitlement offer represent a total capital raising of around A$40 million.

Aeris Resources Ltd - Aeris Resources successfully completes retail shortfall bookbuild
Funds will be allocated to the Cracow Gold Mine acquisition

Aeris Resources Ltd (ASX:AIS) has completed the retail shortfall bookbuild which followed institutional and retail components of the accelerated renounceable entitlement offer.

Completion of this component together with the institutional placement and amounts already raised under the entitlement offer represent a total raising of around A$40 million.

Around 246,933,258 entitlements, representing those entitlements which were either not taken up under the retail component of the entitlement offer or were the entitlements of ineligible retail shareholders (shortfall shares), were offered for sale under the retail shortfall bookbuild.

Retail bookbuild details

The retail shortfall bookbuild cleared at 3 cents per shortfall share and around 153,450,307 entitlements were sold under the retail shortfall bookbuild, including about 6,398,982 entitlements taken up by eligible retail shareholders.

The remaining 93,482,951 entitlements will be allocated to and subscribed for by sub-underwriters to the entitlement offer.

Funds raised will be partly used for the cash consideration for the acquisition of Cracow Gold Mine and associated costs.

Entitlement offer completed

Aeris completed the $2.59 million retail component of its 2.02 for 1 accelerated pro-rata entitlement offer on June 24 to raise $40 million.

The retail entitlement offer received strong support from existing shareholders, with a total of more than 86 million applications received for almost A$2.59 million, representing a take-up rate of about 26%.

Additionally, applications totalling around A$191,696 were received from eligible retail shareholders in respect of new shares under the retail entitlement shortfall facility.

Quick facts: Aeris Resources Ltd

Price: 0.041 AUD

Market: ASX
Market Cap: $76.8 m

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