Red 5 Ltd (ASX:RED) has completed the settlement of the first tranche of the share placement announced) on October 3, 2022 has been completed.
The Company has issued 354,324,632 ordinary fully paid shares at a subscription price of $0.16 each for gross proceeds of A$56.69 million (First Tranche Share Placement).
The second tranche of the Placement comprises 20,675,368 shares at $0.16 per share for gross proceeds of A$3.31 million and is subject to the approval of shareholders at a general meeting of the company to be held in November 2022.
Separately, the Company is offering shares under a share purchase plan (Share Purchase Plan) to raise up to A$6 million.
The Share Purchase Plan will be offered in accordance with the ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 (ASIC Instrument) and a Share Purchase Plan booklet which will be despatched to eligible shareholders of the company.
For further information please visit: https://www.red5limited.com
