Senetas Signs Underwriting Agreement with Taylor Collison; Shares Soar 9%

MT Newswires Live

Dec 20, 2024

Senetas (ASX:SEN) signed an underwriting agreement with Taylor Collison for the exercise of 40.1 million unquoted SENAN options and 42.9 million unquoted SENAP options, according to a Friday filing with the Australian bourse.

The options have a strike price of AU$0.025, with the SENAN options expiring on Dec. 22 and the SENAP options expiring on Dec. 29, the filing said.

Taylor Collison will underwrite a portion of the company's unexercised options, up to a total amount of AU$1.4 million, the filing added.

Senetas will pay the underwriter a management fee and an underwriting fee, each equal to 3% of the underwritten amount.

Proceeds will be used for general working capital purposes, the company said.

Shares of the company rose nearly 9% in recent Friday trade.

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