Successful A$5m Placement
| Stock | Aquirian Ltd (AQN.ASX) |
|---|---|
| Release Time | 20 Mar 2025, 9:33 a.m. |
| Price Sensitive | Yes |
Aquirian Raises $5M in Placement to Expand Wubin Plant, Accelerate Tech
- Raised $5 million through placement of 19.2 million new shares at $0.26 per share
- Funds to be used for expanding Wubin Facility and accelerating technology commercialization
- Placement strongly supported by new institutional, industry and sophisticated investors
Aquirian Ltd (ASX: AQN) has received binding commitments to raise $5.0 million (before costs) through the placement of approximately 19.2 million new fully paid ordinary shares at an issue price of $0.26 per share. The issue price represented a 14.8% discount to the last traded price on 17 March 2025, and an 11.6% discount to the VWAP for the 15 days for which trades were recorded up to and including 17 March 2025. The Placement was strongly supported by a number of new institutional, industry and sophisticated investors. Due to the significant investor interest, the Company had to scale back bids to accommodate the maximum of the range of the targeted raise amount. Included within the Placement, the Company's Board of Directors have committed to subscribe for approximately $200,000 which is subject to shareholder approval. The Placement of new shares will be issued pursuant to the Company's available placement capacity under ASX Listing Rules 7.1 and 7.1A. Settlement of the Placement is expected to occur on 27 March 2025, with the new shares allotted the following day. The Placement shares will rank equally with the Company's existing shares on issue. Funds raised from the Placement will be directed towards expanding the Wubin Facility, accelerating the commercialisation of our technology and general working capital.
The investment will fund the expansion of the Wubin Facility in response to increasing customer demand while further advancing the company's technology portfolio. The integrated Energetics and Technology package provides unmatched control over the end-to-end drill and blast process and positions the company as a leader in blast outcomes. With the imminent automation of the Collar Keeper System, the company is advancing toward its Bootless Bench vision, delivering a step change in operator safety, drill efficiency, and cost-effectiveness.