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Metal Storm rights issue subscribed to $2.9m

Metal Storm rights issue subscribed to $2.9m

Defence technology Metal Storm (ASX:MST) has revealed it has received acceptances and subscription agreements totalling at least $2.9 million of its $3.1 million rights issue, which closes on Monday.

As of Wednesday this week, the company had received applications for $709,500 in entitlements and $512,000 in additional shares, bringing the total to $1.2 million.

Metal Storm has also previously received commitments for up to $1.7 million in funding by other investors to take up any shortfall in the rights issue.

MST shares are today trading unchanged at $0.008.

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