SeaDragon to raise $5 mln via discounted rights issue, placement to fund transition to Nelson factory

Thu, 02 Jul 2015

By Paul McBeth July 2 (BusinessDesk) - SeaDragon, which announced an overhaul of its board this week, wants to raise at least $5 million through a discounted rights issue and a private placement to help fund the transition to its new Nelson manufacturing facility. The Nelson-based company intends to raise the funds through a pro-rata rights issue to existing shareholders and a potential private placement, it said in a statement. The terms of the offer haven't been finalised, but the board anticipates it would be 50 percent of the 1.6 cent...

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