Viento Group (ASX:VIE) is raising up to $7.23 million through a five for two rights issue priced at $0.03 per share to strengthen its balance sheet and reduce debt.
The company is currently in negotiations with Patersons Securities to potentially underwrite the Rights Issue to the extent of at least $6 million.
Directors who are shareholders intend taking up their entitlements to the rights issue and will be supporting the Rights Issue as sub-underwriters.
The offer includes one free attaching option for every two new shares subscribed.
This is exercisable at $0.035 on or before 31st March 2016.
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