Payright Limited (ASX: PYR) has announced the results of the Retail Entitlement Offer, which is the second stage of an approximately $5.03 million equity raising, and the notification of a Retail Shortfall Bookbuild to be conducted today.
Approximately $0.288 million in applications under the Retail Entitlement Offer were received, with a further $0.098 million in Oversubscription Applications.
Payright says if the price determined under the Retail Shortfall Bookbuild is greater than the Offer Price, the Entitlements sold under the Retail Shortfall Bookbuild will be allocated to Eligible Institutional Investors.
Any Retail Premium is expected to be paid to Eligible Retail Shareholders on or about Thursday, 19 January 2023, less any applicable withholding tax.
The settlement date for New Shares issued under the Retail Entitlement Offer and Retail Shortfall Bookbuild is expected to be Wednesday, 11 January 2023, with New Shares expected to be issued and commence trading on ASX on Thursday, 12 January 2023.
Following the announcement, shares of Payright were unchanged at $0.041.