Rapid Lithium Ltd (ASX:RLL) Announces Entitlement Offer Results
Entitlement Offer Results
Rapid Lithium Limited (ASX:RLL) reported the results of its partially underwritten non-renounceable pro rata Entitlement Offer, which closed on 31 January 2025. The Rights Issue received 37 valid applications totaling $53,860.02, comprising 13,465,156 shares and 20,197,742 options.
Allotment and Issuance
In accordance with the timetable lodged with the ASX, the Entitlement Offer will be issued and allotted on 6 February 2025, with shares expected to commence trading on 7 February 2025. The Board will work with underwriter GBA Capital Pty Ltd to finalise the issue and allotment of shares and options under the partially underwritten amount of $1,000,000.
Shortfall Placement
The Company may place the shortfall component not underwritten at its discretion and aims to close out the placement by 30 April 2025, as outlined in section 2.2 of the Prospectus lodged on 18 December 2024.
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