Butn Limited (AU:BTN) has released an update.
Butn Limited has announced a $5 million capital raise through a fully underwritten 1-for-1.9 accelerated entitlement offer, priced at a significant discount to recent trading. The offer aims to bolster Butn’s cash reserves, enabling the company to pursue growth opportunities and maintain operational liquidity. Eligible shareholders in Australia, New Zealand, and Singapore can subscribe for new shares, with the company’s directors also showing support by participating in the offer.
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