Provider: Thomson Reuters Stock Report
Provider: Wright Reports
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Halcyon Agri Corporation Ltd Announces Proposed Placement Of 40,000,000 New Ordinary Shares
Halcyon Agri Corporation Ltd announced that it has entered into a placement agreement (the Placement Agreement) with Credence Capital Fund II (Cayman) Limited (the Placee). Pursuant to the Placement Agreement, the Company has agreed to allot and issue to the Placee, 40,000,000 new ordinary shares in the capital of the Company (the Placement Shares and each a Placement Share) at an issue price of SGD0.5175 for each Placement Share (the Placement Price), amounting to an aggregate consideration of SGD20,700,000, and on the terms and conditions of the Placement Agreement. The Placement will raise gross proceeds of approximately SGD20.7 million and these proceeds will be applied solely for strategic purposes, such as acquisitions and investments. The funds are not to be used for the Company’s general working capital requirements.
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