Australia's Jatcorp sees worst day in more than 2 months on discounted placement

Jatcorp

31/03/2022 03:21

** Shares of consumer goods maker Jatcorp Ltd  JAT.AX  fall
as much as 10% to A$0.018 - set of worst day since Jan. 24, if
losses hold
    ** Co will issue 275 mln shares to raise A$4.4 mln ($3.30
mln) to repay loan and invest in R&D activities, among others
 urn:newsml:reuters.com:*:nASXbgSjMC
    ** Issue price of A$0.016/share represents a discount of 20%
to stock's last close on March 28
    ** Co says entered into term sheet to raise A$3.3 mln in
additional funding via secured convertible note facility
    ** Stock hits lowest level in 10 days
    ** More than 3.4 mln shares change hands, compared with the
30-day average volume of about 1.8 mln shares
    ** Stock up 33.3% this year, as of last close

($1 = 1.3323 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))