Chariot Ltd on Tuesday said it has raised $15.0 million through a placing and subscription offer, to help fund is Moroccan license.
On Monday, Chariot said it planned to raise $18 million through a placing, subscription and open offer.
The Africa-focused transitional energy company said it plans to raise $15 million through a placing and subscription. It also announced an open offer of up to $3 million.
The shares have been priced at 14 pence per share, which represents a 10% discount to their closing price of 15.60p each on Friday. Shares in Chariot were up 0.3% at 14.31p in London on Tuesday morning.
On Tuesday, the company said it has raised $15.0 million through a placing and subscription of 89.6 million shares.
Chariot said it plans to use the proceeds from the fundraise for near-term onshore drilling and development planning on a new onshore Moroccan licence, which it said it expects to be awarded imminently, as well as ‘new ventures and working capital.’
Chief Executive Officer Adonis Pouroulis said: ‘I would like to thank all our existing and new shareholders for supporting this raise and we welcome the participation of our retail investors through the Open Offer. We look forward to reporting on our drilling programme on the new onshore Moroccan licence, to be awarded, as well as our partnering process, other offshore activities and further value generative corporate developments over the rest of 2023 and beyond.’
Chariot plans to hold a general meeting on August 2.
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