Key points
- FOS Capital Ltd raised approximately $1.86m through a placement.
- The placement price is $0.12 per share, a 20% discount.
- Directors committed to subscribe for $310,000 worth of shares.
Full summary
FOS Capital Ltd (ASX: FOS) has successfully completed a placement raising approximately $1.86 million. The placement involved issuing 15.5 million new shares at $0.12 each, a 20% discount to the last closing price. Directors have committed to subscribe for shares worth $310,000. The funds will support the Queensland Schools Lighting Upgrade Program, ATS growth initiatives, cost reduction efforts, and general working capital. Additionally, the company announced a Share Purchase Plan (SPP) for eligible shareholders to subscribe for up to $30,000 of new shares without brokerage costs, aiming to raise up to $750,000.
Guidance
Raised $1.86m through placement, directors subscribed $310,000.
Outlook
The capital raising positions FOS to capitalize on growth opportunities across the group.