LONDON (Alliance News) - Ceramic Fuel Cells Ltd Friday said it has extended the closing offer date for its rights issue to November 12, from October 29.
Shares in the company, which makes fuel cell generators, plunged lower in September when it announced the rights issue.
Under the deal, it is seeking to raise AUD13.7 million in a three-for-five rights issue in order to raise funding for working capital, increased sales and marketing spend, research and product development.
Ceramic said it would issue up to 1.5 billion shares on the basis of three new shares for every five existing shares at a price of 0.90 cents each.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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