Business-based online trade broker BBX Holdings (ASX:BBX) has announced a non-renounceable rights issue to raise $450,000.
Eligible shareholders will have the right to purchase two new shares for every three shares they own, at an issue price of $0.01 each.
The proceeds from the rights issue will be used to pay creditors' claims, fund evaluation of new opportunities and as general working capital.
The offer has a closing date of October 8. BBX shares are today trading unchanged at $0.010.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.