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LONDON (Alliance News) - i3 Energy PLC said Thursday it has raised GBP363,732 though a share open offer, sharply lower than anticipated.
The oil & gas company issued 983,059 shares at a price of 37 pence per share through the open offer. Proceeds of the open offer will go towards asset development and working capital requirements.
Shares in i3 Energy were down 3.3% at 43.03 pence on Thursday.
In mid-March, i3 Energy said it would raise GBP2 million via a share open offer as it separately raised GBP16 million through placing of 43.2 million shares at the same price as the open offer to fund drilling programme on the Liberator oil field in the UK North Sea.
Following the open offer, i3 Energy now has 87.4 million shares in issue overall.