Red Sky Energy (ROG: ASX), an oil and gas exploration and production company focused on developing energy assets, has announced the results of its fully underwritten, non-renounceable pro rata entitlement offer. The Rights Issue, which closed on 20 May 2026, successfully raised $2,461,099 before costs from eligible shareholder acceptances, contributing to its target of approximately $4.2 million before costs.
The offer, which closed on 20 May 2026, allowed eligible shareholders in Australia, New Zealand, or the United Kingdom to subscribe for two new shares for every three held at an issue price of $0.001 (0.1 cents) per new share. The company confirmed acceptances for 2,461,099,249 new shares. Related parties who were eligible shareholders participated by taking up their full entitlements under the Rights Issue.
A shortfall of 1,687,054,106 new shares, equating to $1,687,053 before costs, was identified. The Rights Issue was fully underwritten by CPS Capital Group Pty Ltd. Further, sub-underwriting agreements were in place with Abacus Enterprises Pty Ltd, an entity associated with Managing Director Andrew Knox, and Northern Star Nominees Pty Ltd, linked to Non-Executive Director Adrien Wing, for a combined total of 1,000,000,000 new shares ($1,000,000).
Red Sky Energy, in consultation with the Underwriter, has finalised the allocation of new shares forming the shortfall. All new shares, encompassing both shareholder acceptances and the shortfall allocation, are proposed to be issued today, 25 May 2026. An Appendix 2A document detailing the new shares will also be released to the ASX today, consistent with the company’s previously announced timetable.
