Energy Absolute Public Company Limited (SET: EA) has disclosed a statement through the Stock Exchange of Thailand that it plans to raise capital by around 7.46 billion baht from rights offering. The initiative’s primary purpose is to liquidate the company’s financial institution debts and debentures.
The company plans to launch an offering of new stock at a 1:1 ratio at THB2.00 per share for existing shareholders.
EA also plans to issue new EA-W1 warrants at no cost, at a ratio of 3:1. Shareholders who subscribe three newly issued shares will receive one warrant for free, with each warrant allowing the holder to purchase one share priced at THB4.00 over the course of a three-year expiration period.
The company anticipates raising approximately 7.46 billion baht in capital, which will be allocated as follows:
1) 6,660 million baht will be directed for debt repayment and debenture redemption.
2) 500 million baht will be invested in various projects.
3) The remaining 300 million baht will be rotated as working capital.
