Pacific Edge Completes $7 Million Placement of New Shares

Pacific Edge Limited (NZX: PEB) (Pacific Edge) advises that it has completed a placement of $7m of new shares under its capital raising announced on 29 November 2018 (Placement).

Chair of Pacific Edge, Chris Gallaher, said: “We are pleased to have completed the first phase of our capital raising which will provide funding to progress our commercial objectives and become cash flow positive as soon as possible.”

Trading of Pacific Edge on the NZX is expected to resume at market open.  The new shares under the Placement are expected to be allotted and commence trading on the NZX Main Board on Wednesday 5 December 2018.

All New Zealand resident shareholders of Pacific Edge will have the opportunity to subscribe for additional Pacific Edge shares at no greater than the placement price ($0.35) in due course.  The full terms and conditions of the Share Purchase Plan (SPP) will be contained in an offer document which will be distributed to all eligible shareholders after the proposed record date. 

All dates and times are indicative only and subject to change.