The quantum of shares to be placed will enlarge the company's share base by a quarter to more than 3.3 billion shares.
Adventus Holdings has appointed SAC Capital to help raise $1.54 million by placing out up to 855 million shares at 0.18 cents each.
The proposed placement will not be underwritten and is priced at 10% off Adventus' volume-weighted average price of 0.2 cents on Dec 27, before trading of the shares were halted.
