Beta’s battery electric Alia CX300 aircraft was formally welcomed to New Zealand skies via Hamilton Airport late last week.
The funds will be used to expand to the US and Southeast Asia.
The shareholders’ association says it prefers entitlement offers, as airport looks to maintain its credit rating amid capex spend-up.
Non-binding indicative offer proposal from Being AI doesn’t have a cash-only component, SDL notes.
NZX and ASX-listed airport company needs fund to pay for integrated terminal build, to be led by Hawkins.
Syndicate of eight banks agree new one-year loan facilities, conditional on forthcoming equity raise.
The investment comes ahead of a planned $10m-$15m capital raise to help reduce debt.
Being AI’s share price has fallen on the news, while Solution Dynamics has gone into a trading halt.
The future is still uncertain for the company despite winning a A$43m judgement against a high roller and selling a property for A$67m.
CEO Todd Hunter says investing in them is easy; getting a good return is harder.