Perth-based Quickflix Ltd has lodged its offer document with respect to a rights issue to raise $4.1 million to fund development of its national DVD rental business.
The rights issue is a revised offer following an earlier attempt to raise $4.9 million, with about 20 per cent of that figures reached in a 4-for-5 rights issue at 7.5 cents.
The new issue, at 5 cents per share via a non-renounceable rights issue on a one-for-one basis, is partially underwritten - to about 25 per cent.
In the offer document, Quickflix outlines various scenarios which show its biggest shareholder Destra Corp could move to as much as 25 per cent depending on the acceptance levels of other shareholders.
