Legacy Iron Ore Ltd (AU:LCY) has released an update.
Legacy Iron Ore Ltd is launching a non-renounceable entitlement offer, allowing eligible shareholders to purchase an additional 2 shares for every 7 they own, at $0.011 each, aiming to raise approximately $24.2 million. This move provides an opportunity for retail shareholders to apply for extra shares under a shortfall offer, highlighting the company’s strategy to bolster its financial standing. Investors should note the speculative nature of this investment, suggesting careful consideration before participating.
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