Metro Performance Glass (ASX:MPP) Announces Capital Raise Update
Capital Raise Details
Metro Performance Glass has concluded discussions with Cowes Bay regarding key final terms of documentation. The company and its banks could not reach an agreement, leading to the end of negotiations with Cowes Bay. Following this, the directors have been pursuing alternative options for an equity capital raise planned for the new year.
A supported rights offer is still the company’s primary strategy. Directors are engaging with four potential investor groups, who may not be mutually exclusive, to facilitate this raise. Furthermore, the company has received conditional offers to underwrite $15 million of the capital raise, and is now focused on formalising the rights offer with all engaged parties.
Metro Performance Glass updates on its capital raise plans, concluding talks with Cowes Bay and pursuing a rights offer.
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