SAS 0.00% 1.6¢ sky and space company ltd

Lovely... 19c and sophs/profs as expected. Don't like the use of...

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  1. 1,377 Posts.
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    Lovely...

    19c and sophs/profs as expected.

    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.
 
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Currently unlisted public company.

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