At the close of the rights issue on June 30, Mermaid Maritime received valid acceptances and excess applications for 59.1% or 477,414,333 rights shares.
Mermaid Maritime Public Company has raised net proceeds of about $56.1 million from its non-renounceable non-underwritten rights issue of up to 807,616,489 new ordinary shares.
The company first announced that it would be conducting a rights issue on Feb 28, 2025, for 11.8 cents for each rights share on the basis of four rights shares for every seven ordinary shares in the capital of the company held by the shareholders.
