Black Pearl Group raises NZ$1.74m, opens retail share plan

Black Pearl Group Limited (NZX:BPG) has successfully completed a placement to wholesale and accredited investors in the United States, raising approximately NZ$1.74 million.

The shares issued in the placement will begin trading on the NZX today.

The company has also announced the opening of a retail share purchase plan (SPP) for New Zealand retail investors, with approximately 5.64 million shares available at an issue price of NZ$0.51 per share.

The SPP is not open to investors outside of New Zealand.

Existing shareholders have priority in the oversubscription process.

The SPP is subject to the terms and conditions outlined in the Offer Document.

Eligible investors are encouraged to apply by November 7, 2023.