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Aurora Labs completes $5 million placement

Funds will primarily be applied to fast track development of rapid manufacturing technology (RMT)

Aurora Labs Limited, an Australian company which developed a unique, multi-layer process for metal powder bed fusion technology, has successfully completed a bookbuild for placement of 13,157,895 shares at an issue price of $0.38 per share to institutional and sophisticated investors to raise $5 million before costs.

“The strong support of new institutional and sophisticated investors in this capital raising is a solid endorsement of our company and places Aurora in a stronger position to deliver on the exciting developments with Aurora’s Rapid Manufacturing Technology (“RMT”) and accelerate the growth of its business over the year ahead,” said David Budge, Managing Director of Aurora Labs.

13,157,895 shares to be issued pursuant to the Placement (“Placement Shares)” will be issued within the Company’s existing placement capacity in accordance with ASX Listing Rule 7.1 (5,612,675 shares) and 7.1A (7,545,220 shares). The Placement shares will comprise approximately 17.5% of Aurora’s total pre-placement issued share capital and will rank equally with existing ordinary shares.

Blue Ocean Equities Pty Limited (BOEQ) acted as the lead manager to the Placement. BOEQ will receive a management and selling fee equal to 5% of the proceeds of the Placement and will also be issued with 367,107 unquoted options, each with a term of 3 years and an exercise price of $0.57 per Option, upon settlement of the Placement (“Options”). The Options will be issued within the Company’s placement capacity pursuant to ASX Listing Rule 7.1.

The Placement issue price of $0.38 represents a discount of approximately 10.6% to Aurora’s last closing price of $0.425 per share (Wednesday 6 February 2019).

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Victor Anusci

Victor does not really exist. He is a pseudonym for several writers in the 3D Printing Media Network team. As a pseudonym, Victor has also had a fascinating made-up life story, living as a digital (and virtual) nomad to cover the global AM industry. He has always worked extra-hard whenever he was needed to create unique content, making it look like more people are working on this website than they really were. However, lately, as our editorial team has grown, he is mostly taking care of publishing press releases.

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