Carbonxt Group (ASX:CG1) completed its AU$1 million share purchase plan at an offer price of AU$0.06 per share, according to a Tuesday filing with the Australian bourse.
The company received subscriptions worth AU$739,000. Phelbe Pty Ltd and Chaleyer Holdings, both shareholders in the company, took up the shortfall of AU$261,000 in line with their underwritten agreement with Carbonxt.
Nearly 16.7 million shares will be issued on April 9.
Proceeds will fund Carbonxt's strategic investment in a US-based activated carbon plant where it holds a 40% interest and retains the right to acquire an additional 10%, the filing stated.
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