Dyesol Ltd the Australian firm developing a Perovskite Solar Cell (PSC) technology, aims to raise up to AU$ 10 million (US$ 7.25 million /Eur 6.8 million) by selling shares to shareholders and investors.
A share purchase plan (SPP) opened on November 19, allowing existing shareholders from Australia or New Zealand to subscribe to new shares priced at AU$ 0.26 apiece. The SPP targets AU$ 6 million in proceeds, to support Dyesol’s Technology Development and Business Activity plans and working capital.
In particular, this will help the company continue to pursue its goal of scaling-up and commercialising its Perovskite Solar Cell technology.
The SPP, fully underwritten by PAC Partners Pty Ltd, is expected to close on December 4.
At the same time, the company is planning to attract selected financial institutions, sophisticated and professional investors to subscribe for up to AU$ 4 million in stock on similar terms.
The price per share of AUD 0.26 represents a 19% discount to the volume weighted average price (VWAP) of Dyesol’s shares on the Australian Securities Exchange for the 5 trading days immediately prior to November 19.
(AU$ 1 = US$ 0.725/Eur 0.677)
