Wiseway Group (ASX: WWG) launches $ 4 million offer – The Market Herald

• Wiseway Group (WWG) launches four to 25 non-negative rights offer to raise up to $ 4 million
• The stock price will be 17 cents, an 8.1% discount to Wiseway’s closing price of 18.5 cents on May 13
• WWG has entered into insurance agreements with Regnans Capital and SG Hiscock & Company with Regnans for up to $ 2.5 million, with the latter taking over the remainder
• Wiseway will use the money to pay deposits to secure airline and charter aircraft relationships and increase the working capital needed to fund the expansion of new routes
• Wiseway ends the day in gray with stocks at 18.5 cents

The Wiseway Group (WWG) has launched a proportional non-waiver offer of between four and 25 to raise up to $ 4 million.

The share price will be 17 cents, an 8.1% discount The closing price of Wiseway is 18.5 cents on May 13 and a 10 percent discount to the 30-day weighted average price.

Wiseway has entered into agreements with two underwriters to accept any rights that have not been exercised.

Regnans Capital has committed to pay up to $ 2.5 million, and SG Hiscock & Company has committed to pay any deficit after Regnans takes the full amount.

The offer will open on May 24 and close on June 3, shares will be issued on June 10 and ASX trading on June 14.

Wiseway will primarily use the money to pay deposits to secure airline and charter aircraft relationships, as well as increase the working capital needed to fund the expansion of new routes.

Wiseway ended the day in gray with stocks at 18.5 cents.