ASX-listed junior developer Hot Chili has raised A$4.4-million, against a target of A$2.5-million, following a successful placement of shares at a discounted average price of 5c a share – 10.7% less than the company’s last close of 5.6c. The placement, which exceeded its target as it was heavily oversubscribed, prompting Hot Chili to accept additional subscriptions, saw strong demand from existing major shareholders, as well as professional and sophisticated investors in Australia and Chile.
