Entyr Pushes Offer Deadline to 3 March, Targeting $10.5M Raise

Entyr’s Capital Raising Extension

Environmental technology company Entyr Limited (ASX: ETR), currently under a Deed of Company Arrangement, has announced an extension to the closing date for its capital raising offers under the prospectus. Originally set to close on 17 February 2025, the offers will now remain open until 3 March 2025. This extension aims to provide additional time for investors to subscribe for new shares and options, potentially enhancing the company’s fundraising outcomes.

The capital raising comprises several components, including a Share Purchase Plan (SPP) offering up to $1 million, a Placement Offer targeting $8.5 million, and other smaller offers such as the Management Offer, Proponent Offer, Advisor Offer, and Director Fee Share Offer. Collectively, these initiatives seek to raise up to $10.5 million before costs, a critical step for Entyr as it pursues its business turnaround and ASX reinstatement.

Strategic Timing and Updated Key Dates

The extension pushes back several key milestones in Entyr’s restructuring timeline. Following the new closing date, a General Meeting is scheduled for 7 March 2025, with a record date for share consolidation on 13 March and completion of consolidation by 20 March. The issuance of new shares and options is planned for 24 March, with the company aiming to satisfy ASX reinstatement conditions before 27 March and resume trading on 31 March 2025.

This timeline underscores Entyr’s commitment to restoring market confidence and liquidity. The consolidation and capital raise are pivotal to meeting ASX requirements and positioning the company for future growth in its niche environmental technology sector focused on sustainable tyre processing.

Investor Access and No Immediate Action Required

Eligible shareholders can access the prospectus documents and payment details online or request paper copies via Entyr’s offer information line. Importantly, the company has clarified that no further action is required from investors who have already applied under the original prospectus terms, as the supplementary prospectus does not materially alter the offer conditions.

Entyr’s Executive Chairman, Mr Dermott McVeigh, has authorised the announcement, signaling board support for the extension as a prudent measure to maximize investor participation amid ongoing market uncertainties.

Looking Ahead

While the extension provides a valuable window for investor engagement, the ultimate success of the capital raising will depend on market appetite and Entyr’s ability to demonstrate the viability of its innovative tyre processing technology. The company’s low-emission, chemical-free approach aligns well with growing environmental regulations and sustainability trends, potentially offering a compelling investment proposition if the capital raise proceeds as planned.