Business
The Elixir Energy (ASX:EXR) share price is down 10% today. Here’s why
The Elixir Energy Ltd (ASX: EXR) share price is plummeting today following news of the company’s latest placement and share purchase plan.
At the time of writing, the Elixir Energy share price is down 10%, with shares in the company trading for 41 cents apiece.
Let’s take a closer look at the news released by the energy company today.
Elixir Energy’s capital raising
The Elixir Energy share price fall comes after the company announced it has successfully raised $10 million from a significantly oversubscribed placement.
The company will issue more than 27.7 million new shares under the placement.
They were each priced 20% less…
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