Prospex Energy (PXEN) has confirmed that its unsecured Convertible Loan Note (CLN) offering is now oversubscribed following strong investor demand.
The European gas and power projects company said investors can still participate in the fundraise if they notify the company before 5 p.m. today, Friday 13 March 2026. Any further allocations will be made on a pro rata basis.
Meanwhile, the board said it may choose to increase the overall size of the offering depending on the final level of subscriptions received.
Prospex noted that the CLN will be issued directly by the company to each subscriber. Investors wishing to participate can contact the company’s brokers, VSA Capital or Hannam & Partners, by email.
Prospex Energy’s CEO Tom Reynolds said: “I am pleased by the strong support shown by investors following yesterday's announcement, with commitments received resulting in the CLN fundraise becoming oversubscribed. A limited opportunity remains for investors to participate, and interested parties should contact the Company before the close of business today. I would like to thank shareholders who have taken part in the fundraising for their continued support.”
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The rapid oversubscription suggests strong investor backing for Prospex’s strategy of targeting European gas and power assets. With energy security remaining a priority across the region, the company’s focus on gas projects continues to attract market attention, and the board’s option to expand the offering could provide additional capital to support further project development.