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LONDON - Active Energy Group plc (AIM:AEG, OTCQB:ATGVF) announced Tuesday its intention to raise approximately £2.5 million through a placing of new ordinary shares at 0.075 pence per share, representing a 50% discount to Monday’s closing price.
The alternative energy company will issue approximately 3.33 billion new shares, which would represent about 86.8% of the enlarged share capital following the placement. The company will also issue warrants on a one-for-one basis, allowing holders to subscribe for additional shares at 0.1 pence each over a three-year period.
The fundraising is being conducted through an accelerated bookbuild process managed by Zeus Capital Limited. The company expects the new shares to be admitted to trading on AIM around September 15.
According to the company’s statement, proceeds will be allocated to advance a pipeline of 10 commercial rooftop solar and battery installations with approximately 2.3 MW capacity, which is expected to generate contracted revenues exceeding £10 million over a 20-year period.
Funds will also support the company’s digital infrastructure initiatives in the UAE, where Active Energy plans to harness surplus energy for third-party services including Bitcoin mining and AI/data hosting.
A portion of the proceeds will be used for working capital, including the company’s previously announced digital asset treasury strategy, under which no more than 30% of the company’s treasury will be held in digital assets at any given time.
The placement is being conducted using existing share allotment authorities granted at the company’s general meeting held on August 20.
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