Structural Monitoring Systems (ASX:SMN) offered 14 million options, each exercisable at AU$0.78 and expiring Nov. 30, 2027, to eligible option holders on the basis of one new option in exchange for every expired SMNO listed option they hold as of April 5, 2024, according to an Australian bourse filing on Friday.
The eligible option holders include option holders with a registered address in Australia or New Zealand, or those elected at the firm's discretion.
The firm seeks to provide option holders with an opportunity to replace their expired options with new options under the offer.
A prospectus for the new offer will be lodged on Jan. 20 and the offer will open on Jan. 23.
The firm's shares fell almost 2% in recent trading on Friday.
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