Sprintex (ASX:SIX) has secured commitments from a network of investors to raise AU$3.3 million through the placement of 65 million fully paid ordinary shares at an issue price of AU$0.05 per share, according to a Thursday filing with the Australian bourse.
It will also issue one free attaching option for every five shares subscribed, exercisable at AU$0.10 per option expiring on June 30, 2026, the filing said.
The funds will be used to settle outstanding loans and provide working capital to support the expansion into other markets, the filing added.
Alpine Capital acted as the sole lead manager for the Placement, the company said.
Shares of the company fell past 3% in recent trade.
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