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Shareholders in listed tech company Rakon will be able to buy up to $5000 of new shares at $4.05, the same price offered to institutional investors at its recent initial placement.
Rakon shares closed yesterday at $4.47.
The share expansion is to help pay for the proposed acquisition of the Frequency Control Products business of C-MAC Micro Technology announced this month.
Funds raised will be used to fund further capital expansion, Rakon said.
Managing director Brent Robinson said a lot of smaller investors had been with the company from the beginning and "we felt it was important that we find a way for them to be able to benefit from our growth plans".
- NZPA
