The Board of Aspermont Limited (ASX: ASP) is pleased to announce the completion of an underwritten debt facility that provides $1.5 million from the issue of convertible debentures. The company has now received $1.472 million in subscriptions to provide further working capital to the business. The principle terms of the convertible debentures include:
The facility raising was underwritten, with a 6% underwriting fee to be paid in cash and shares.
The debentures are a component of the re-capitilisation and capital restructuring of the Company which began with a fully taken rights issue at $0.01 per share and a private placement at $0.015 per share.
The Company will use the proceeds of this raising to reduce bank debt and for working capital purposes.
For further information contact:
Tel: +44 207 216 6060