Sharechat Logo

Pulse Utilities raises $1 mill

Friday 18th June 2010

Text too small?

Smart metering company Pulse Utilities said it raised $1 million by placing 2.1 million shares at 50 cents apiece for general working capital.

The funds will be used as the company “continues to rapidly develop its retail electricity business,” it said in a statement today.

The share sales mean Pulse is now restricted under listing rules in how much more it can raise, with its 25% capacity nearly used up. Pulse also placed a further $15,000 of convertible notes, it said.

The shares last traded at 45 cents and have dropped 36% in the past 12 months.

 

Businesswire.co.nz

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Founder resigns from smart metering company

IRG See IRG research reports