- PARKD (PKD) is aiming to raise up to $1.25 million in its latest entitlement offer
- The funds will be used as working capital for existing projects and help develop PARKD’s new business
- The one-for-three non-renounceable entitlement offer will price shares at 5 cents each
- The offer represents a 15 per cent discount to the 30-day volume-weighted average price
- Additionally, a top-up facility will give shareholders the option to apply for more shares
- The company’s directors have all confirmed their full or partial uptake of entitlements
- PARKD shares are down 8.3 per cent and trading at 5.5 cents per share
PARKD (PKD) is set to issue 25,050,000 shares to existing shareholders through a non-renounceable pro-rata entitlement offer.
Aimed at raising up to $1,252,500 before costs, the funds will be used as general working capital for existing projects and to develop a new business in PARKD’s target sectors such as health and commuter infrastructure.
The non-renounceable entitlement offer will give eligible shareholders the opportunity to subscribe for one new share for every three shares they already hold.
Priced at five cents per share, it represents a 15 per cent discount to the 30-day volume-weighted average price of PARKD shares.
The offer will also include a top-up facility, inviting eligible shareholders who choose to take up their full entitlements to apply for additional shares.
All of the company’s directors will take up either their full or partial entitlements.
PARKD provides technical design and advisory services to local councils, private developers and the health sector.
PARKD shares are down 8.3 per cent on Thursday, trading at 5.5 cents at 11:26 am AEDT.