All good I say.
That should give us cash on hand around $25m. Will be interesting to see how much is bid into the book.

Semiconductor firm Archer Materials in $15m placement

Anthony Macdonald, Yolanda Redrup and Kanika Sood

Oct 1, 2021 – 11.09am

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ASX-listed Archer Materials has tapped Canaccord Genuity and Taylor Collison to raise $15 million via a placement.

The offer was priced at $1.45 a share which is a 16.4 per cent discount to the last traded price, according to a term sheet sent to investors.

Archer is raising $15 million via a placement. AP

The placement in not underwritten.

Archer also plans to raise $5 million via a share purchase plan to shareholders, also priced at $1.45 a share and not underwritten.

Archer is the only ASX-listed exposure to quantum computing, potential investors were told. It is building a quantum chip that can be onboarded to existing laptops and mobile phones, and is a part of computing giant IBM’s Quantum Network.1 Biochip, in addition to general working capital.
Bids were due 2pm today.

Archer’s market capitalisation on completion is expected to be $350 million.