Silex Systems Limited today announced the successful completion of a $50 million placement of new securities to professional and sophisticated shareholders.
The offer of 6,493,507 million new ordinary shares at a price of $7.70 per share was well supported with the offer closing over subscribed reflecting strong demand from both retail and institutional investors.
The proceeds from the placement will be used to fund the ongoing development of the Company’s technologies and the commercialisation of Silex’s products.
The placement shares will be allotted on 6 November 2007 and will rank pari passu with existing Silex shares.
Dr Michael Goldsworthy, Managing Director and CEO of Silex said “We are very pleased with the strong support shown by both our existing domestic and international shareholders as well as a number of new shareholders to the register”.
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