The company will raise roughly A$25 million through the placement of 312.5 million fully paid ordinary shares at a price of A$0.08 per share, representing an 11% discount to its last closing price.
The remaining A$15 million will be raised via a one-for-17 underwritten pro-rata non-renounceable entitlement offer of fully paid ordinary shares to existing eligible shareholders.
Royal Bank of Canada and Bell Potter Securities are acting as joint lead mangers for the equity raising, with Far adding they had also agreed to underwrite the entitlement offer.
“This
