Amaero International raises A$11m for titanium alloy powder plant
2022-05-16 13:46:51 [Print]
Australia's Amaero International Limited has raised around A$11 million via a combination of an institutional placement and the issue of a senior convertible note.
The company issued approximately 39 million new shares to institutional investors at 21 cents per share, raising a total of A$8.2 million and issued an A$2.8 million senior convertible note to Pegasus Growth Capital Fund I (PGCFI).
Funds from the raise will be used to finalise the installation and commissioning of the titanium alloy powder plant, which is expected to take company to a cash flow positive position.
The company issued approximately 39 million new shares to institutional investors at 21 cents per share, raising a total of A$8.2 million and issued an A$2.8 million senior convertible note to Pegasus Growth Capital Fund I (PGCFI).
Funds from the raise will be used to finalise the installation and commissioning of the titanium alloy powder plant, which is expected to take company to a cash flow positive position.
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