WA Kaolin Limited (ASX:WAK) Completes Institutional Entitlement Offer
Institutional Entitlement Offer Completion
WA Kaolin Limited has successfully closed the institutional component of its Accelerated Non-Renounceable Entitlement Offer (ANREO), raising A$2.64 million from major shareholders at an offer price of A$0.04 per New Share, representing a 42.9% discount to the last closing price.
Retail Entitlement Offer
The company plans to open the retail entitlement offer, aiming to raise an additional A$4.34 million on Wednesday, 12 February 2025.
Use of Proceeds
The funds will provide general working capital to pursue sales ramp up and achieve positive cash flow.
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