Flexiroam Ltd (AU:FRX) has released an update.
Flexiroam Ltd is set to raise $1.038 million through a fully underwritten rights issue, offering shares at $0.025 each to bolster marketing efforts, repay a CEO-provided loan, and enhance working capital. Eligible shareholders in selected regions can participate in the offer, with the option to subscribe for additional shares via a top-up facility. The capital raising initiative is not managed by a lead manager and is supported by the underwriting of Richmond Bridge Pty Ltd, controlled by the CEO, without a fee.
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