bullish
Amaero International Ltd - Oversubscribed and upsized capital raise to fund growth
SUMMARY
- RaaS Research Group has published a flash comment on advanced materials manufacturing group Amaero International (ASX:3DA) following the completion of an upsized institutional placement to raise $25m at $0.35/share to fund capital equipment purchases and further fit out its Tennessee facility.
- The raise was not unexpected; we had factored in a $22.5m raise at $0.34/share in our modelling before 30 September.
- We have incorporated the raise into our forecasts with no impact on current numbers.Post raise, the company will have pro-forma cash of approximately $37.5m to fund the capex programme ahead of ramping up production and transitioning to commercial sales.
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