Chasen to raise $13.4m through warrants issue

CHASEN Holdings, which is listed on the mainboard, will be raising more than $13 million through a renounceable non-underwritten rights issue of up to 112 million warrants.

The issue price for each warrant will be $0.01, with each warrant carrying the right to subscribe for one new ordinary Chasen share at an exercise price of $0.12, on the basis of four warrants for every ten existing shares held.

The new shares will be priced at $0.13 each - aggregating the issue price and exercise price - which represents a discount of 29.7 per cent to the weighted average price of $0.185 of trades done for the full market day last Friday, the day the issue was announced.