Hydrix Completes Institutional Entitlement Offer, Raises $3.89M
Key points
- Hydrix raises $3.89M under Institutional Entitlement Offer
- No institutional shareholders took up entitlements
- Retail Entitlement Offer to open on 25 May 2026
Full summary
Hydrix Limited (ASX: HYD) has successfully completed the institutional component of its $8.183 million pro-rata accelerated renounceable entitlement offer, raising gross proceeds of approximately $3.89 million. The Institutional Entitlement Offer, which closed on 19 May 2026, was fully subscribed by new institutional investors and family offices. The company is now proceeding with the retail component of the Entitlement Offer, which will open on 25 May 2026 and close on 5 June 2026. Eligible retail shareholders will be able to subscribe for 6 new shares for every 1 existing share held at the offer price of $0.005 per share. Any shortfall will be covered by a Retail Shortfall Bookbuild. Hydrix plans to use the proceeds to retire debt, cover offer costs, and provide working capital.
Guidance
Hydrix plans to raise a further $4.3M under the Retail Entitlement Offer
Outlook
Hydrix anticipates completing the Retail Entitlement Offer by 5 June 2026 and issuing new shares by 18 June 2026.
Summary generated by a large language model. Please interpret with care.