Ann: Annual Report to shareholders, page-3

Just raised $6M plus have a $2M finance facility.


Note 28. Events subsequent to reporting date

Raiden entered into At-the -Market Finance Facility providing the Company with Standby equity capital of up to $2 million over a 3 year term, with Raiden retaining full control over all aspects whether and when it could utilise the facility.

On 29 August 2023, Raiden announced that it had received a firm commitment from sophisticated, professional, and institutional investors to raise $6 million via a share placement of 272,727,273 fully paid ordinary shares at issue price of $0.022 per share. The Company had initially sought to raise $5 million, but due to strong interest it has elected to accept oversubscriptions to an additional $1 million (with subscription amount subject to shareholder approval). The tranche 1 placement for $5 million was completed on 6 September 2023.