AnteoTech (ASX:ADO) opened a non-underwritten 1-for-10 entitlement offer to raise AU$5 million, according to a Thursday filing with the Australian bourse.
The offer price for the roughly 249 million shares is AU$0.02 apiece.
Funds will be used to support the company's international clean energy technology sales and marketing activities, among others, the filing said.
The offer, which includes a shortfall facility, will close on Dec. 9.
The company's shares surged past 5% in recent Thursday trade.
Price (AUD): $0.02, Change: $+0.001, Percent Change: +5.26%
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