{"id":9055,"date":"2024-10-16T15:21:15","date_gmt":"2024-10-16T15:21:15","guid":{"rendered":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/10\/16\/entitlement-offer-fully-subscribed\/"},"modified":"2024-10-16T15:21:15","modified_gmt":"2024-10-16T15:21:15","slug":"entitlement-offer-fully-subscribed","status":"publish","type":"post","link":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/10\/16\/entitlement-offer-fully-subscribed\/","title":{"rendered":"Entitlement Offer Fully Subscribed"},"content":{"rendered":"<p>Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that its entitlement offer closed fully subscribed. The pro-rata non-renounceable entitlement offer of one (1) new fully paid ordinary share for every four (4) fully paid ordinary shares held by eligible shareholders at the record date of 13 September 2024, at an issue price of $0.105 per share (<strong>Entitlement Offer<\/strong>) raised $13.3 million (before fees). The Entitlement Offer was extended by one week and closed on 10 October 2024 (<strong>Closing Date<\/strong>).<\/p>\n<p>The Entitlement Offer was well supported by Eligible Shareholders who applied for 60,198,783 shares plus all of the shortfall offer of 66,468,031 shares.<\/p>\n<\/p>\n<p>The Company advises that the results of the Entitlement Offer were as follows:<\/p>\n<\/p>\n<p><strong>Shares<\/strong><\/p>\n<p><strong>Proceeds<\/strong><\/p>\n<p><strong>Total number of shares offered under the<\/strong><\/p>\n<p><strong>Entitlement Offer<\/strong><\/p>\n<p>126,666,814<\/p>\n<p>$13,300,015<\/p>\n<p><strong>Total number of shares applied for by Eligible<\/strong><\/p>\n<p><strong>Shareholders under the Entitlement Offer<\/strong><\/p>\n<p>60,198,783<\/p>\n<p>$6,320,872<\/p>\n<p><strong>Total number of shortfall shares applied for by Eligible Shareholders under the Entitlement<\/strong><\/p>\n<p><strong>Offer<\/strong><\/p>\n<p>66,468,031<\/p>\n<p>$6,979,143<\/p>\n<p><strong>Total<\/strong><strong><\/strong><strong>Shares<\/strong><strong><\/strong><strong>to<\/strong><strong><\/strong><strong>be<\/strong><strong><\/strong><strong>issued<\/strong><strong><\/strong><strong>under<\/strong><strong><\/strong><strong>the<\/strong><\/p>\n<p><strong>Entitlement Offer<\/strong><\/p>\n<p>126,666,814<\/p>\n<p>$13,300,015<\/p>\n<p>The shares under the Entitlement Offer will be issued on 17 October 2024.<\/p>\n<p><strong>Galan\u2019s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:<\/strong><\/p>\n<p><em><em>\u201cOn behalf of the Board, I\u2019d like to sincerely thank our shareholders for their continued support to achieve this outstanding result. To raise $13.3 m in a challenging market is strong validation of Galan\u2019s HMW project in Argentina.<\/em><\/em><\/p>\n<p><em><em>Galan continues to move forward with the development of HMW and remains upbeat about the future of the lithium market.\u201d<\/em><\/em><\/p>\n<p><strong>The Galan Board has authorised this release.<\/strong><\/p>\n<\/p>\n<p>Click here for the full ASX Release<\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that its&hellip;<\/p>\n","protected":false},"author":1,"featured_media":9056,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-9055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/9055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/comments?post=9055"}],"version-history":[{"count":0,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/9055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media\/9056"}],"wp:attachment":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media?parent=9055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/categories?post=9055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/tags?post=9055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}