Active Energy Group (AIM:AEG) intends to raise gross proceeds of approximately £1.3 million to fund a pipeline of renewable energy opportunities and the acquisition and development of infrastructure for digital asset projects in the Middle East.
A placing of 1.58 billion new shares, via an accelerated bookbuild, is priced at 0.0825p, a c.23% discount to the 29 April closing price of 0.1075p and, on full take-up, the Placing Shares will represent approximately 23% of the firm's enlarged share capital.
The company says the net proceeds will be deployed across its renewable energy and power pipeline and for general working capital, with remaining cash used for its existing Digital Assets treasury strategy.
Zeus Capital is acting as bookrunner and intends to place the shares with certain institutional and other investors, the Placing is not underwritten and is not conditional on a minimum amount being raised.
