ARC Funds Raises $600,000 in New Equity
Key points
- Firm commitments received to raise $600,000 at $0.10 per share
- Represents a 33% premium to last traded price
- Proceeds for working capital purposes
Full summary
ARC Funds Limited (ASX:ARC) announced it has received firm commitments to raise $600,000 through a placement of new shares at $0.10 per share, a 33% premium to the last traded price. The raise, supported by new and existing shareholders, will provide capital to support the company's growth strategy and balance sheet. The placement will issue 6,000,000 shares under the company's existing placement capacity. Proceeds will be used for working capital purposes.
Guidance
None
Outlook
None
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