Australian ‘clean-tech’ company, Dyesol Limited has raised a total of AUD $5 million through take-up by shareholders of the recent Share Purchase Plan and a supplementary placement to sophisticated investors.
The transaction was partly underwritten by Octa Phillip Securities for a total of $3 million and, consequently, there was no shortfall to the underwriter.
In addition to the approximate $3.9 million of proceeds raised from the Share Purchase Plan, the Company has also placed $1.1 million in shares at 18 cents per share to sophisticated investors, comprised principally of existing sophisticated investor shareholders. The total number of shares to be issued will be approximately 27.78 million.
Dyesol Chairman Richard Caldwell expressed his appreciation for the strong financial support from Dyesol shareholders.
Dyesol is a global supplier of Dye Solar Cell (DSC) materials, technology and know-how, offering photovoltaic enabling technology and materials to manufacturers seeking to value-add photovoltaic capability into their products such as glass building façades or steel roofing products.
DSC is a third generation photovoltaic technology based on biomimetic nanotechnology that enables metal, glass and polymeric based products in the building, transport and electronics sectors to generate clean electricity and improve energy efficiency.