AML3D share purchase plan to raise up to $400,000 for US growth strategy
March 2, 2023
AML3D Limited, Edinburgh, Australia, has launched a Share Purchase Plan (SPP) in an effort to raise up to $400,000, which will be utilised to further the company’s US growth strategy and to invest in Arcemy® platform software development. As part of AML3D’s US growth strategy, the company intends to use raised funds to establish a presence at a key US Additive Manufacturing centre of excellence, develop a US sales team, and build a US value-added reseller network.
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Eligible shareholders will be offered an opportunity to participate in an SPP to raise up to $400,000, with each holder being able to apply for a maximum of $30,000 worth of new shares at a price of $0.072 per share. This represents a discount of 7.3% of the volume weighted average market price for the shares over the last 5 trading days. A maximum of 5,555,555 new shares will be issued under the SPP.
Shares issued under the SPP will rank equally with AML3D’s existing ordinary share capital. The SPP offer booklet containing further details of the SPP is expected to be released on March 13, 2023.