Delorean: Raises $4.5m in private placement to underpin further growth

Delorean Raises $4.5m in private placement to underpin further growth

• Bioenergy and renewable energy company Delorean (DEL) raises $4.5 million via a private share placement
• The placement was made to domestic sophisticated investor clients of RM Capital and Morgans, with 26.47 million new shares issued at 17 cents each
• The company says it also intends undertaking a share purchase plan (SPP) to raise up to a further $2 million
• The company says the placement and SPP funds will be used to underpin further growth and support its infrastructure project development pipeline
• DEL shares down 10 per cent to 18 cents