14 Mar 2013capital raising announcement● Neutral
On March 13, 2013 the company closed a further small private placement of 116,000 shares at $0.50 each, raising $58,000 gross from one non-U.S. person. This continues the February share sale on the same terms.
What it means for a shareholder
116,000 new shares at $0.500 to raise about $58,000. That's 0.309% dilution: every existing holder's slice gets 0.309% smaller. If you held $1,000 of shares (2,000 at the issue price), your slice goes from 0.00535% to 0.00533% of the company. To keep it you'd need 6 more shares - about $3 at the issue price.
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