Don't like the use of the phrase "firm commitments" though, prefer $$ in the bank.
Nor do I like Patersons.
But funds in the bank pre-launch, conservative approach. Onwards and upwards.
Lets hope we can remain >20c.
Highlights
• Sky and Space Global Ltd (ASX:SAS) has closed its Placement heavily oversubscribed.
• The Company has received firm commitments from sophisticated and professional investors to
raise up to $10m before costs via the issue of 52,631,579 ordinary shares at $0.19 each.
• The Placement is being jointly managed by Merchant Corporate Advisory Pty Ltd and Patersons
Securities Limited.
• Funds will be used for general working capital to advance critical path work programs and
operations for the launch of the full equatorial constellation, following the launch of the
company’s 3 diamonds nano-satellites in late May 2017.
• Following the Placement the Company will be well funded with in excess of $12m cash at bank
leading into the launch of its initial “3 Diamonds”, scheduled for late May 2017.
SAS Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
