Regal has accumulated the new shares via a series of transactions between January 20, 2021 and February 3, 2021.
Oversubscribed share purchase plan
In December 2020, Elixinol significantly increased the size of its share purchase plan (SPP) from the initial A$2 million target to around A$12.3 million to accommodate strong shareholder demand after it was significantly oversubscribed.
The company received applications totalling around A$27.2 million for the SPP, which closed on December 11, 2020.
Funds raised from the SPP, together with the A$8.2 million from the recent placement, will be used to execute the company’s strategy and pursue new growth opportunities.