Australia's Elsight announces equity raising; shares fall

Elsight

04/11/2022 01:30

** Shares of Australia's Elsight  ELS.AX   RIC  fall as much
as 5.6% to A$0.34, their lowest since Oct 12
    ** The advanced communication tech developer secures
commitments for A$8 million ($5.03 million) capital raising to
fund growth  urn:newsml:reuters.com:*:nASX5vrNlW
    ** Says equity raising through issue of convertible notes at
a face value of A$0.30; which is at a discount of 16.7% to co's
last close
    ** Stock posts its biggest intraday pct fall since Oct 14
    ** Stock is marking worst week since Oct 14
    ** Stock is on track for third consecutive week of losses
    ** Stock has fallen 5.3% this year as of last close
($1 = 1.5893 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))