FBR Secures Up to AU$20 Million Share Subscription Deal with GEM Global Yield

MT Newswires Live08-06

FBR (ASX:FBR) has secured a three-year, AU$20 million share subscription facility with GEM Global Yield, giving the company the flexibility to raise capital through share issuances at its discretion, with no minimum drawdown requirement, according to a Wednesday filing with the Australian bourse.

The company can request drawdowns under certain conditions, including volume limits tied to recent trading activity, at 90% of the 15-day volume-weighted average price, while also having the option to set a minimum drawdown price, the filing said.

GEM will receive options to purchase up to 450 million shares at AU$0.01 within three years, a 1.8% facility fee payable in cash or shares, and legal fees up to AU$40,000 as part of the agreement, the filing added.

Share issuance is contingent on FBR's available placement capacity or obtaining shareholder approval, per the filing.

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