eEnergy secures conditional equity subscriptions of about £8.3m
The placing, direct subscription and retail offer will support creditor payments and working capital.
eEnergy announced a conditional equity fundraising on 2 October and updated the total to about £8.3 million on 6 October, following its retail offer. Shares are priced at 0.3 pence.
The package combines approximately £6.3 million from a placing and direct subscription with about £1.96 million in retail subscriptions. It is subject to shareholder resolutions and admission of the new shares to AIM, scheduled for 26 October.
Proceeds will pay overdue creditors and provide working capital while project receipts are collected. The UK energy services company delivers solar, battery, lighting and electric vehicle charging projects.
Use of funds
Pay overdue trade creditors
Provide working capital while project receipts are collected