Metals Acquisition Limited Announces ~A$140 Million (~US$96 Million) Placement [Yahoo! Finance]
GLENCORE PLC UNSP/ADR (GLNCY)
US:NASDAQ Investor Relations:
glencore.com/investors
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Source: Yahoo! Finance
Highlights MAC launches institutional Placement of approximately 7.8 million New CDIs at an issue price of A$18.00 per New CDI to raise ~A$140.0 million (~US$96.2 million ) (before costs) Offer Price of A$18.00 per New CDI, which represents a 13.0% discount to both the last closing price of CDIs on the ASX and the 5-day VWAP of CDIs on the ASX Placement proceeds will be used to optimise MAC's balance sheet and de-lever by retiring its existing US$145 million Mezzanine Debt Facility at the earliest practicable date while also providing additional flexibility to pursue strategic inorganic growth opportunities Upon settlement of the Placement, MAC will be well capitalised with a pro-forma 30 September 2024 cash balance of ~US$177 million (before costs) (in addition to a US$25 million revolving credit facility which remains undrawn) and pro-forma net debt of ~US$134 million (before costs) Operations continue to perform strongly at the CSA Copper Mine (" CSA ") with Q3 2024 copp
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