Altona Energy plc announced it had received subscription letters in respect of a further fundraising of approximately £523,000 before expenses, at an issue price of 6.5 pence per share.
The company today said it had received £168,214 from the new investors and issued 2,587,909 new ordinary shares. The balance of the funds, £355,139, is expected by the end of February 2021 when the remaining placing shares of 5,463,683, will be issued.
The new investors have also been issued with warrants, each with a strike price of 12 pence, representing a one for two basis on each of the placing shares. As a result of the issuance of the placing shares, 1,293,954 warrants have also been issued.