Circ re. Further ASA investment of £50k
Beacon Rise raises £50,000 via advanced subscription agreement with existing investor.
- Amount raised £50,000
- Total ASA funds raised to date £366,888
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Beacon Rise (LSE: BRS), is pleased to announce that the Company has entered into an advanced subscription agreement (the "ASA") with an existing investor to raise gross proceeds of £50,000 (the "ASA Funds").
It is intended that the net proceeds raised will be used towards a portion of the transaction fees associated with the Proposed Acquisition and Admission, as well as being applied towards the Company's working capital commitments.
To date, the Company has raised total gross proceeds of approximately £366,888 in ASA Funds which are pending completion.
Pursuant to the terms and conditions of the ASA, the Company has conditionally agreed to issue to the ASA subscriber new ordinary shares of £0.0001 each in the Company ("Ordinary Shares") at the issue price of any new Ordinary Shares issued pursuant to any equity fundraise that takes place contemporaneously with Admission. If Admission has not occurred by 27 February 2027, the ASA subscribers will receive new Ordinary Shares at a price of £1.80 per new Ordinary Share.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.