Adisyn to Raise AU$14 Million via Share Placement; Shares Reach Four-Year High

MT Newswires Live

04/23

Adisyn (ASX:AI1) received firm commitments to raise AU$14 million through the placement of about 207.4 million new shares at AU$0.0675 apiece, according to a Thursday filing with the Australian bourse.

The placement was cornerstoned by Regal Partners' (ASX:RPL) Regal Funds Management subsidiary and Israel's largest investment house, Meitav, the filing said.

Additionally, Chairman Kevin Crofton and Non-Executive Director Dominic O'Hanlon will subscribe for a total of AU$200,000, subject to shareholder approval.

Proceeds will be used to advance graphene technology programs, business development, and working capital, per the filing.

Adisyn shares rose 47% in morning trade on Thursday and earlier reached their highest since January 2022.

Regal Partners shares rose 3% in recent trade.

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