Solar windows maker ClearVue to raise USD 2m via placement

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August 14 (Renewables Now) - Solar windows maker ClearVue Technologies Ltd (ASX:CPV) said today it has received firm commitments to raise around AUD 3 million (USD 2.1m/EUR 1.8m) via a placement of shares.

The Australian smart building materials manufacturer intends to issue 31,998,787 new fully paid ordinary shares at AUD 0.095 apiece to a number of new professional and sophisticated investors. The price is a discount of 17.4% to ClearVue’s last close of AUD 0.115 per share on August 11.

The company said it will use the proceeds from the placement to speed up the commercialisation of its patent solar photovoltaic (PV) window technology. The focus will fall on the key target markets of North America, Germany and Australia.

Every investor that gets new shares in this transaction will also receive one free attaching unlisted option for every two new shares issued to it. Each option will be exercisable at AUD 0.20 apiece and will expire on or before December 31, 2022.

(AUD 1.0 = USD 0.716/EUR 0.605)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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