Lepidico (ASX:LPD) plans renounceable rights issue for over $9M
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Lepidico (LPD) will conduct a pro-rata renounceable entitlement offer to raise up to $9.6 million in proceeds
Shares will be issued at 1.3 cents each, a 19-per-cent discount to the 10-day volume-weighted share price
Participants in the offer will receive one free attaching option for every two new shares bought
The proceeds will help advance development activities for phase one and two projects, product sample manufacturing and working capital
Lepidico is down 18.75 per cent and trading at 1.3 cents per share
Lepidico (LPD) will conduct a pro-rata renounceable entitlement offer to raise up to $9.6 million in proceeds.