Seadragon's talks with new cornerstone investor collapse

Wed, 28 Sep 2016

By Edwin Mitson Sept. 28 (BusinessDesk) - Seadragon, the fish-oil refiner, has warned investors that preliminary talks with a potential new cornerstone investor have failed. The Nelson-based company is in the middle of a rights issue where current shareholders can take up one new share for every two currently held at 0.8 cents apiece. In an update to the NZX, Seadragon said it had raised a total of $1.5 million so far, with the issue to close on Oct. 10. The company also highlighted an off-market trade in the rights to take up the ne...

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