Cauldron Energy Limited (ASX:CXU) has announced the closure of its pro-rata renounceable entitlement offer, aimed at raising $1,948,539 (before costs). The offer, priced at $0.006 per share, allowed eligible shareholders to purchase two new shares for every nine shares held. According to the announcement released on June 18, 2025, the offer closed on June 16, 2025.
Applications were received for 196,672,481 new shares, totaling $1,180,036. Additionally, applications for shortfall shares accounted for 35,195,192 new shares, amounting to $211,171. While the entitlement offer was underwritten by Parle Investments Pty Ltd, there was a shortfall of 92,888,725 shares, valued at $557,332. Cauldron Energy has notified the underwriter about this shortfall.
Despite the shortfall, the company expressed gratitude to the shareholders who participated in the offer. The funds raised from the entitlement offer will likely support Cauldron Energy’s operations and strategic initiatives. The company anticipates issuing and allotting all new shares under the entitlement offer on Friday, June 20, 2025.
