PF1 Oversubscribed

Heading says it all, PF1 was "Oversubscribed" by investors to the tune of 5,000,000 Shares at an issue price of $0.20 per Share raising an additional $1,000,000  

Todays announcement
PF1 raised $6,000,000 pursuant to the offer under its prospectus dated 31 August 2020 and supplementary prospectus dated 16 September 2020 (together, the ‘Prospectus’ by the issue of 30,000,000 shares at an issue price of $0.20 per share.



From the second page of the Prospectus, the very 1st page of information !
For an offer of 25,000,000 Shares at an issue price of $0.20 per Share to raise $5,000,000 (before costs), with the ability to accept oversubscriptions of up to 5,000,000 Shares at an issue price of $0.20 per Share in order to raise up to an additional $1,000,000 (for a total of up to $6,000,000) (Public Offer).



2.2 Page 3 States min $5,000,000 to max $6,000,000 to be raised, but as other pages state, you can only get to $6,000,000 if there IPO has been oversubscribed

"Details of offer"

Details of the Offer This is the money page !

1. 4.1  The Offer
   The Public Offer is an initial public offering of 25,000,000 Shares at an issue price of $0.20 per Share to raise $5,000,000 (Minimum Subscription) with the ability to accept oversubscriptions of up to an additional 5,000,000 Shares at an issue price of $0.20 per Share to raise up to an additional $1,000,0000 (Maximum Subscription).
   The Shares offered under the Public Offer will rank equally with the existing Shares on issue. A summary of the material rights and liabilities attaching to the Shares offered under the Public Offer is set out in Section 10.2.
2. 4.2  Minimum Subscription
   The Minimum Subscription for the Public Offer is $5,000,000 (25,000,000 Shares) (Minimum Subscription).
   If the Minimum Subscription has not been raised within four (4) months after the date of this Prospectus, the Company will not issue any Shares and will repay all application monies for the Shares within the time prescribed under the Corporations Act, without interest.
3. 4.3  Oversubscriptions
   In addition to the Minimum Subscription, the Company has the ability under the Public Offer to accept oversubscriptions of up to 5,000,000 Shares at the issue price of $0.20 per Share to raise up to an additional $1,000,000 (for a total of up to $6,000,000). No oversubscriptions above this amount will be accepted by the Company under the Public Offer.

No oversubscriptions above this amount ( Additional $1,000,000) will be accepted by the Company under the Public Offer. Did not see that until right now, sort of backs up my 708 investors got scaled back ( Cant prove ) but got to admit I hit the nail on the head with the oversubscription story