FBR (ASX:FBR) received firm commitments to raise AU$1 million via a placement it entered into a AU$20 million share subscription facility with GEM Global Yield, and it plans to raise another AU$1 million via a share purchase plan, according to a Friday Australian bourse filing.
The placement will consist of an issuance of around 222.2 million shares at a price of AU$0.0045 each.
It also invited eligible shareholders to subscribe for new fully-paid ordinary shares via a share purchase plan to raise up to AU$1 million at a price of AU$0.0045 per share.
The placement shares are expected to be issued on Aug. 18, and the new shares under the share purchase plan are expected to be issued on Sept. 5.
It plans to use the funds raised by the placement and share purchase plan as working capital to complete commissioning of a further Hadrian X robot, development of new DST-enabled products, among other things.
Its shares fell 17% in recent trading on Friday, reaching an all-time low.
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