Aurora Labs Ltd (ASX:A3D) has announced a $4 million capital raising through firm commitments to raise $3 million in Placement at 11.5cents/share and through the launch of a $1 million Share Purchase Plan also at 11.5cents/share.
The funds raised will be primarily applied to the commercialisation of Aurora Labs? core technology.
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company?s share price at the time to entice new and existing investors.
Shares of Aurora Labs Ltd traded 7.14% lower at $0.13/share following the announcement.