NZ King Salmon Investments Limited (NZX/ASX: NZK) has closed its NZ$60.1m underwritten 2.85 for 1 pro rata rights offer (Rights Offer), receiving strong shareholder support with applications totalling approximately NZ$50.3m.
Settlement and allotment of new shares taken up under the Rights Offer is expected to occur on 12 May 2022.
A shortfall of approximately NZ$9.8m worth of shares is to be allocated in priority to retail shareholders who over-subscribed NZ$3.5m through the Rights Offer.
The proceeds of the equity raise will be used to deleverage NZ King Salmon’s balance sheet and provide liquidity and funding for medium term operating requirements.
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