Desert Control AS: Last day of trading in subscription rights
Desert Control AS announced that today marks the final day for trading its subscription rights. The company is proceeding with a fully underwritten rights issue.
Sandnes, Norway – Desert Control AS announced today that August 5 is the last day for trading its subscription rights. This action is in connection with the company's fully underwritten rights issue, aimed at raising capital.
According to previous stock exchange announcements from the company, the issue involves 256,172,241 new shares. A fully underwritten rights issue signifies that all shares to be issued have already been secured.
Further details regarding the use of the raised funds or the precise terms of the issue were not elaborated on in the brief announcement. The company's prior statements have indicated a need to strengthen its capital structure.
Desert Control AS focuses on technology designed to improve soil quality and water usage in agriculture. Their technology utilizes natural minerals to enhance soil structure and increase its water retention capacity.