Aurora Completes $1.82 million Strategic Placement
New European strategic investor joins Aurora’s share register.
Aurora raises $1.82 million in Placement at $0.14 per share.
Funds will primarily be applied to accelerate commercialisation of rapid manufacturing technology (RMP-1 and large format) machinesand for working capital purposes.
Aurora Labs Limited (“Aurora” or “the Company”) (ASX: A3D) is pleased to announce that it has successfully raised $1.82 million by a private placement of 13,000,000 shares at an issue price of $0.14 per share to a new unrelatedcornerstone investor (“Placement”).
Upon settlement of the Placement, 13,000,000shares will be to be issued pursuant to the Placement (Placement Shares), of which 2,598,030 Placement Shares will be issued within the Company’s existing Listing Rule 7.1 placement capacity, and 10,401,970 under its Listing Rule 7.1A placement capacity. The Placement Shares will comprise approximately 12.5% of Aurora’s total pre-Placement issued share capital (and approximately 11% on a fully-diluted basis)and will rank equally with existing ordinary shares. The Placement is being made to a nominee entity of Mr Tjeerd Barthen, a Dutch entrepreneur who founded a successful healthcare business that was ultimately acquired by management and private equity. Mr Barthen now invests globally in disruptive technologies with scalable opportunities. The Board of Aurora welcomes Mr Barthen to the register of shareholders.On completing the Placement, Mr Barthen said, “I have followed the growth of the sector for some time and quickly identified that Aurora Labs as a technological leader with the potential to revolutionise manufacturing. I look forward to following the team on their journey.”The Company will pay a fee of 5% of the Placement proceeds (excluding GST) to its corporate adviser Alimter Pty Ltd, which is to be settled by the issue of 260,000 shares under the Company’s ASX Listing Rule 7.1 placement capacity (at the same deemed issue price of $0.14 per share) and $54,600 in cash. The Placement issue price of $0.14 represents a discount of approximately 6.6% to Aurora’s last closing price of $0.15 per share on 11 February 2020.