Megaport to raise $309m as retail entitlement offer opens
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The news: Megaport has formally opened the retail component of its fully underwritten $827 million entitlement offer to fund its latest AI infrastructure contracts and establish a GPU pool, announced earlier this month.
The context: The enterprise tech company expects to raise approximately $309 million on Thursday through the retail component. Eligible retail shareholders are invited to participate at $14.30 per new share, matching the issue price of the prior institutional offer that raised $518 million.
Megaport added that shareholders who take up their full entitlement can apply for additional new shares up to a maximum of 50% in excess of their allocation.
The retail entitlement offer is scheduled to close at the close of business on 29 June.
What they said: “The exceptional 99% take-up in the institutional offer reflects the strong support of our institutional shareholders and their confidence in our strategy,” Megaport CEO Michael Reid said.
The source: ASX
