Internet provider, Spirit Telecom, will re-list itself on the ASX as of June 27. The move follows the company’s successful capital raising.
It has reached the minimum subscription of $2 million will re-list on the ASX through an RTO of Arunta Resources (ASX: AJR).
Spirit Telecom (ASX:ST1) raised $2.62 million through the offering of 131 million new shares at an offer price of $0.02 made in Arunta’s replacement Prospectus. When added to the existing shares, and the new shares issued under the vendor offer, the capital raising will give Spirit a market cap of $16.7 million.
Spirit Telecom chairman, James Joughin, said the company is pleased to be in the process of transition into a listed company and will continue to work with enthusiasm and dedication in order to reach this key Company milestone.
“Spirit is focused on continuing to provide Australian homes and offices, student accommodation and business parks with the fastest ISP and thanks the continued support of its enthusiastic and dedicated customers.
“We welcome our new shareholders to Spirit,” he said.