APC Minerals Limited (ASX:APC) Announces Entitlement Issue to Raise $1.93M
Offer Details
APC Minerals Limited has announced a pro-rata renounceable entitlement issue, offering three shares for every two held at a price of $0.011 per share. Additionally, shareholders applying for the offer will receive one free new option per three shares applied for and issued, with the potential to raise up to $1,933,363. The offer is conditionally underwritten by ShareX Pty Ltd.
Purpose of the Offer
The funds raised will be allocated to exploration activities, including the LDG Project, heritage surveys, and conversion of loans, along with working capital and offer expenses. Upon completion, the company expects to have sufficient working capital to achieve its stated objectives.
Dilution and Shareholding
Participating in the entitlement issue will maintain shareholders’ holdings, while non-participating shareholders may experience a dilution of approximately 60%. Significant dilution risks are outlined in the prospectus.
Risk Factors
Investments in APC Minerals are highly speculative, with various risk factors including underwriting risk and potential dilution if the offer is not fully subscribed.
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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