Hot Chili Limited (AU:HCH) has released an update.
Hot Chili Limited is set to bolster its finances through a private placement, targeting a raise of A$29.9 million by issuing new shares at a significant discount. Scheduled for May 9, 2024, the shares will be offered to professional and institutional investors without the need for shareholder approval, leveraging the company’s existing placement capacity. This strategic financial move aims to expand Hot Chili’s capital base, allowing for growth and operational advancements.
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