Dyesol Limited (Queanbeyan,Australia), a developer of Perovskite Solar Cells (PSC), on December 9th, 2015 announced that it has successfully completed a capital raising of USD 8.1 million.
The company’s USD 6 million share purchase plan raised USD 5,543,262 in subscriptions from eligible Dyesol shareholders and a further shortfall of USD 456,738 was placed with the lead manager and underwriter, PAC Partners.
PAC Partners has subsequently placed the shortfall and an additional USD 2,111,596 with institutions and sophisticated investors providing a total of USD 8,111,596 and the issue of 31,198,446 new shares.
3rd generation solar technology on track
The funds raised will be utilised to drive the commercialisation schedule of the Company.
Both its technology development and business activity plans are on track and Dyesol is confident of further significant progress that will demonstrate that this revolutionary 3rd generation solar technology can successfully address the challenges and opportunities of transitioning to a renewable energy based global economy.