Raising proceeds will be used to meet customer demands for accelerated delivery of its counter drone systems.
Shaw and Partners and Bell Potter Securities are overseeing the deal. The transaction is structured as a single tranche placement of $70 million and a share purchase plan of $5 million.The issue price of 80¢ represents a 19 per cent discount to the five-day volume weighted average price of 99¢ and a 28 per cent discount to the last close of $1.12. It is understood the placement was upsized from $50 million following strong investor demand.
Raising proceeds will be used to meet customer demands for accelerated delivery of its counter drone systems, investor sources said.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.
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