This is why the stock price of FBR (ASX: FBR) is down 7% today.

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NS FBR Ltd (ASX: FBR) Today’s stock price is in the red following the recent company announcement Capital increase..

At the time of writing, the stock of robotics companies fell 7.55% to 4.9 cents. It’s worth noting that despite the sharp decline, its share rose 25% last month.

FBR completes placement

The main reason for the plunge in FBR stocks may be investor concerns about the imminent dilution of stocks.

According to the release, the FBR advised that it received a firm commitment from a series of investors to raise $ 10 million. The strongly favored placements were primarily from new and existing institutional and sophisticated investors from Australia, the United Kingdom, Hong Kong, and the United States.

This placement will create approximately 222.22 million new common stock at an issue price of 4.5 cents per share. This represents a 14% discount on the 5-day volume-weighted average price (VWAP) and an 11% discount on the 30-day VWAP.

The FBR uses the existing placement capacity under List Rule 7.1. This allows you to issue up to 15% of the shares without shareholder approval. The new shares will be ranked on par with the company’s existing common stock.

Revenues received from placements are used to realize working capital and its commercialization strategies. This too:

  • You have completed 27 builds in your pipeline and have not yet committed any additional builds.
  • Completely assemble two additional Hadrian X construction robots to meet the demands of the Australian market.
  • Complete the design and production of the next iteration of Hadrian X.
  • Continue to scale up organizational capabilitiesCOVID; When
  • Further development of BIM architecture software that enables construction design and integration into customer planning.

Mike Pivac, Managing Director and CEO of the FBR, said:

We are pleased to have received support from both existing and new institutional and sophisticated investors to promote the commercialization of FBR technology.

The funds raised will enable us to run and extend our current committed work pipeline, taking advantage of the frequent global commercial opportunities, especially in North America and Europe.

FBR stock price snapshot

Despite today’s decline, FBR shares have risen 6% over the past 12 months, resulting in a slight rise. The company’s share price withdrew after reaching a 52-week high of 6 cents in mid-November.

Based on the rationale for the evaluation, the FBR Market first With approximately $ 108.12 million, the number of issued shares exceeds 2.21 billion.

This is why the stock price of FBR (ASX: FBR) is down 7% today.

Source link This is why the stock price of FBR (ASX: FBR) is down 7% today.

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