Connect with us

Hi, what are you looking for?

Smart Investment StepsSmart Investment Steps

Editor's Pick

Successful Completion of Tranche 1 Share Placement

Lithium Universe Limited (referred to as ‘Lithium Universe’ or the ‘Company,’ ASX: ‘LU7”) is pleased to announce that further to its announcement dated 31 October 2024 (ASX:LU7 LU7 Completes Share Placement and Launches Entitlement Offer) (Announcement), it has now settled the first tranche of its share placement to sophisticated and professional investors (Tranche 1).

Highlights

Successful settlement of Tranche 1 of the share placement to sophisticated and professional investors, raising $1.94 million
Entitlement Offer to open to shareholders on 11 November 2024
Tranche 2 of the Placement (subject to shareholder approval) is anticipated to be completed on or around 9 December 2024, raising $0.20 million

Tranche 1 under the Company’s Placement comprised of 161,791,667 fully paid ordinary shares (Shares), which have been issued today under the Company’s existing capacities under Listing Rules 7.1 (15% capacity) and 7.1A (10% capacity). The Shares were issued at a price of A$0.012 per share, raising A$1,941,500. In addition, subject to shareholder approval, the Tranche 1 investors will be entitled to one new option for every share subscribed to, with an expiry date of 12 January 2026 and an exercise price of $0.03 (Options).

As detailed within the Announcement, the Company advised that it would be conducting an additional placement to sophisticated and professional investors, which will be subject to shareholder approval (Tranche 2), as well as a pro-rata 1 for 10 non-renounceable entitlement offer (Entitlement Offer). Investors under the Tranche 2 placement and Entitlement Offer will also receive options on the same term as the Tranche 1 investors.

Tranche 2 Placement

The Tranche 2 placement comprises of 16,666,667 shares, with the issue of such shares being subject to shareholder approval. The Company will seek shareholder approval at an upcoming general meeting, which is scheduled to be held on or around Monday, 9 December 2024.

Entitlement Offer

The Entitlement Offer will open on Monday, 11 November 2024 and has been made under a transaction-specific prospectus that was lodged with ASIC and ASX on 1 November 2024.

Click here for the full ASX Release

This post appeared first on investingnews.com

Enter Your Information Below To Receive Latest News and Articles




    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Stock

    Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

    Stock

    In the days since President-elect Donald Trump won the presidential race, Nicole Bivens Collinson’s phone has barely stopped ringing. Collinson, who helps lead the international trade and...

    Stock

    Netflix’s cheaper, ad-supported tier has reached 70 million global monthly active users two years after it was launched. The company said Tuesday more than 50% of...

    Stock

    The value of assets tied to Donald Trump — and those likely to benefit under his administration — surged in the wake of his...

    Disclaimer: smartinvestmentsteps.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartinvestmentsteps.com