Klevo Rewards Seeks $4.12 Million in Extended Share Offer at $0.009 Price
Klevo Rewards Limited has extended the closing date of its entitlement offer to 15 October 2025, aiming to raise up to $4.12 million through a discounted share issue. This move provides shareholders additional time to participate in the company’s capital raising effort.
- Entitlement offer closing date extended from 8 to 15 October 2025
- Offer price set at $0.009 per share for one new share per two held
- Potential capital raise of approximately $4.12 million before costs
- Revised timetable includes deferred settlement trading and notification of undersubscriptions
- Directors retain right to further extend offer or adjust secondary offers
Context of the Capital Raise
Klevo Rewards Limited, formerly known as My Rewards International Limited, has announced an extension to the closing date of its pro-rata non-renounceable entitlement offer. Originally set to close on 8 October 2025, the offer will now remain open until 15 October 2025. This extension gives eligible shareholders additional time to subscribe for new shares at a discounted price of $0.009 each.
Details of the Offer
The entitlement offer allows shareholders to acquire one fully paid ordinary share for every two shares they currently hold. If fully subscribed, Klevo Rewards aims to raise approximately $4.12 million before costs. The offer is part of a broader capital raising strategy that includes secondary offers of securities, which may be adjusted or closed early at the company’s discretion.
Revised Timetable and Market Implications
The company’s updated timetable includes deferred settlement trading starting 16 October, notification of any undersubscriptions, and the issue of shares and options by late October. The directors have also reserved the right to extend the closing date further, introducing some uncertainty around the final timing. This flexibility suggests Klevo Rewards is keen to maximise participation and ensure the capital raise meets its funding objectives.
Strategic Significance
Klevo Rewards operates in the loyalty and rewards technology sector, providing subscription-based marketplaces and digital marketing services. The fresh capital is likely intended to support growth initiatives, technology development, or working capital needs. For investors, the discounted share price and potential dilution are key considerations as the company seeks to strengthen its balance sheet.
Looking Ahead
As the offer period extends, market participants will be watching closely for subscription levels and any underwriting activity to cover shortfalls. The outcome will influence Klevo Rewards’ financial flexibility and could impact its share price performance in the near term.
Bottom Line?
The extended offer deadline signals Klevo Rewards’ determination to secure funding, but investors should watch for final subscription results and potential further changes.
Questions in the middle?
- Will the entitlement offer achieve full subscription or require underwriting support?
- How might the capital raise impact Klevo Rewards’ share price and shareholder dilution?
- What are the company’s strategic priorities for deploying the new funds?