Icetana Limited (ASX:ICE) Announces Results of Entitlement Offer
Results of Entitlement Offer
Icetana Limited (ASX:ICE) reported that its one for two renounceable pro rata entitlement offer closed with 27,430,002 New Shares applied for, raising $548,600. Additionally, 4,041,112 New Shares were applied for under the Top Up Facility, generating $80,822. These applications represent 23.8% of the total 132,314,218 New Shares offered. The New Shares are expected to be issued on 20 February 2025 and are fully underwritten by Lance East Holdings Pty Ltd. The remaining 100,843,104 Shortfall Shares will be allocated according to the company’s shortfall allocation policy.
Convertible Notes Conversion
The company anticipates that its 720,000 unlisted convertible notes will automatically convert into 41,199,999 Shares two business days after the first issue of New Shares worth at least $1 million pursuant to the Entitlement Offer.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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