16 June 1998capital raising announcement▼ BadMajor
With cash running low, 3DX sold 1,462,044 shares in a private placement at $1.50/share (about $2.2 million raised) to CWS Limited-Liability Company, Minnowburn Corp. and Susan Morrice, among others - a steep 86% discount to the $11 IPO price 18 months earlier, with antidilution protection for the buyers if the company later sold shares even cheaper.
What it means for a shareholder
1.5m new shares at $1.50 to raise about $2.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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