Nanollose Limited (ASX: NC6) announced a strategic AU$2.1 million capital raise to support its commercialization strategy. The raise includes AU$672,000 from commitments by four strategic investors through the issuance of 42 million fully paid shares at AU$0.016 each, conducted in two tranches. Additionally, a 1-for-3 non-renounceable rights issue will raise up to AU$1.05 million under the same terms.
Nanollose's Executive Chairman, Dr. Wayne Best, and Non-Executive Director, Winton Willesee, will also convert AU$400,000 in outstanding fees to equity, subject to shareholder approval. Participants will receive one unlisted option for every five shares, exercisable within three years at tiered prices. Funds raised will advance research and development in sustainable biomaterials, including vegan leather, fabrics, and agricultural products, as well as bolster working capital. This capital injection provides Nanollose with financial flexibility to accelerate its strong pipeline of opportunities and drive growth.
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