Navigator Global Investments (ASX:NGI) Completes $3.87M SPP – The Market Herald

0

Subscribe

Be the first with news that moves the market

  • Navigator Global Investments (NGI) Successfully Completes Share Purchase Plan (SPP) and Raises Over $3.87 Million
  • Participants were able to subscribe for up to $30,000 of fully paid common shares at a price of $1.48 each
  • The SPP followed the recent $47 million placement that was undertaken to grab a 19.8% stake in US property manager Marble Capital for US$100 million (A$142 million).
  • As part of the placement, approximately 30.4 million new shares were issued to participants at a price of $1.55 per share
  • Navigator shares were up 1.03% at market close and are trading at $1.47.

Navigator Global Investments (NGI) has successfully completed its Share Purchase Plan (SPP) and raised over $3.87 million.

Participants were able to subscribe for up to $30,000 of fully paid common stock at a price of $1.48, a 2% discount to the five-day volume-weighted average price.

The SPP followed Navigator’s recent $47m placement, which was undertaken to grab a 19.8% stake in US property manager Marble Capital for US$100m (A$142m).

Marble Capital focuses on multi-family real estate developers and operators in major US markets.

As part of the offering, approximately 30.4 million new shares were issued to participants at a price of $1.55 per share.

Shares under the plan are expected to be issued on May 18 and begin trading on the ASX on May 19.

Navigator will use the money from the investment and stock purchase plan to fund the purchase of Marble Capital.

Navigator shares were up 1.03% at market close and are trading at $1.47.

Share.

Comments are closed.