Home Sports Skin Elements (ASX:SKN) raises $1.5m for antimicrobial technology – The Market Herald

Skin Elements (ASX:SKN) raises $1.5m for antimicrobial technology – The Market Herald

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  • Skin Elements ( SKN ) will raise $1.5 million through a listing and rights offering to commercialize its all-natural plant-based antimicrobial technology, SE Formula.
  • Under the offering, 28 million fully paid ordinary shares will be issued to sophisticated investors at 2.5 cents each to raise $700,000
  • The rights offer will raise $776,891 by issuing one new share for every 15 shares held at an issue price of 2.5 cents.
  • Participants in the placement and rights offer will receive one subscription option for each share subscribed for, exercisable at five cents each, expiring on December 31, 2025.
  • Shares in Skin Elements fell 17.1 percent to end the day at 2.9 cents

Skin Elements ( SKN ) will raise $1.5 million through the offering and acquisition of rights to commercialize its all-natural plant-based antimicrobial technology, SE Formula.

Under the offering, 28 million fully paid common shares will be issued to sophisticated investors at 2.5 cents each to raise $700,000.

Members will also receive one call option for each share subscribed, exercisable for five cents, expiring on or before October 31, 2025.

Lead manager EverBlu Capital will receive a fee of six percent of the total amount raised, as well as two million fully paid ordinary shares and 28 million options on the same terms.

The rights offer will raise $776,891 by issuing one new share for every 15 shares held at an issue price of 2.5 cents.

Members will also receive one free vesting option for each share subscribed, exercisable for five cents, expiring on or before October 31, 2025.

The rights offer will open on November 21 and close on December 8.

Shares in Skin Elements fell 17.1 percent to end the day at 2.9 cents.

https://themarketherald.com.au/skin-elements-asxskn-to-raise-1-5m-for-anti-microbial-technology-2022-10-26/

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