Australian robotic technology company Fastbrick Robotics Limited (ASX:FBR) confirms that it has completed a capital raise and has received commitments for $35.0m. The capital raising was completed with a small group of international and domestic institutional investors. Following the recently completed investor marketing both internationally and in Australia, there was very strong interest in the Company’s Hadrian XTM and its core Dynamic Stabilisation platform technology and Intellectual Property. The overwhelmingly positive response from investors in the Fastbrick story has made it possible to finalise the capital raise swiftly and efficiently.
The placement of 184,210,526 shares will be issued at an offer price of $0.19 per share representing a discount of 5.0% to the closing price on 21 November 2017 and an 8.9% discount to the 15 day VWAP. The placement will be completed under Fastbrick’s ASX Listing Rule 7.1 and 7.1A placement capacity. A total of 101,780,491 shares are to be issued under ASX Listing Rule 7.1 capacity and 82,430,035 shares to be issued under the Company’s ASX Listing Rule 7.1A capacity. The Company confirms that the placement satisfies ASX Listing Rule 7.1A.3.
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