FBR halted on Thursday for an institutional share placement announced today of $12m. The discount was 20%. Bell Potter scored $720,000 for their pain and suffering.
This leaves FBR with cash balance of $16m explicitly to see them through to the anticipated exercising of joint venture option with CRH Ventures. It brings on board some (presumably US-based) international shareholders.
The shares will be tradable on 9 August.