Some further details on the raise....

Some further details on the raise.

https://www.lse.co.uk/rns/88E/proposed-placing-to-raise-up-to-a98-million-3rg0dlmc01dje9q.html

"88 Energy Limited ("88 Energy" or the "Company") (ASX, AIM: 88E) today announces that it proposes to raise up to A$9.8 million (approximately £5.23 million) (before expenses), within the Company's existing placement capacity, pursuant to a placing (the "Placing") of new ordinary shares of no par value in the Company (the "Placing Shares") at a price per Placing Share of A$0.003 (equivalent to £0.0016) (the "Placing Price") per share.

The Placing Price is equivalent to a discount of 40% to the closing price of the Company's shares on the Australian Securities Exchange ("ASX") on 22 April 2024, being the latest practicable date prior to this announcement, and a discount of 33.7% to the volume weighted average price on the ASX for the five days prior to 23 April 2024. The Company also announces that its shares have been placed in a trading halt on the ASX pending the release of an announcement in relation to the completion of the Placing.

The Bookbuild will open with immediate effect following release of this announcement. The number of Placing Shares to be issued in the UK (the "UK Placing Shares"), will be agreed by Cavendish, EurozHartleys and Inyati and the Company at the close of the Bookbuild. The timing of the closing of the Bookbuild, the amount to be raised and allocations are at the discretion of Cavendish, EurozHartleys, Inyati and the Company. Details of the number of Placing Shares to be issued will be announced as soon as practicable after the close of the Bookbuild. The Company intends to rely on the Company's placement capacity pursuant to ASX Listing Rules 7.1 to issue up to a maximum of 3,291,974,839 new ordinary shares (equivalent to maximum gross proceeds of up toA$9.8 million (approximately £5.23 million), such that shareholder approval will not be required for the Placing"

I see DW hasn't missed another opportunity.

Cheers