10th May 2022 20:23
Ecofin US Renewables Infrastructure Trust PLC - London-based investor in US renewable energy assets - Plans to raise new capital via placing of new shares at a price of USD1.015 per share for "attractive investment opportunities". The company has fully deployed its IPO proceeds and has drawn down USD9.1 million under its revolving credit facility. In addition to the placing, there will be an offer of new shares through Peel Hunt's retail capital markets 'REX' portal to provide retail investors in the UK with an opportunity to participate in the fundraising. Issue price represents a discount of 5.1% to the closing share price of USD1.07 on Monday. Up to 24.9 million shares in total will be available under the two deals, equal to around 20% of Ecofin's existing issued share capital.
Current stock price: USD1.04
12-month change: down 3.0%
By Arvind Bhunjun; [email protected]
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