Need to be clear this is not like an overdraft, line of credit or debt funding. In order for BRN to secure the actual capital ($10m minimum), BRN shares must be sold into the market to realise that capital.
These types of structures are commonly used in the US, often called ATM (At-The-Money) programs or "dribble-out" facilities. Acuity Capital is a company in Australia that has offered ATM's for several years for small cap companies.
https://www.acuitycapital.com.au/examples
Need to be clear this is not like an overdraft, line of credit...
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Last
21.0¢ |
Change
-0.005(2.33%) |
Mkt cap ! $399.0M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 22.0¢ | 20.8¢ | $661.1K | 3.116M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 345840 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 1257898 | 22 |
View Market Depth
| Last trade - 11.55am 04/07/2024 (20 minute delay) ? |
| BRN (ASX) Chart |