Metals Acquisition to raise A$140M via institutional placement [Seeking Alpha]
Metals Acquisition Corp (MTAL)
Company Research
Source: Seeking Alpha
The new CDIs are to be issued under the placement at an offer price of A$18.00 per New CDI. The proceeds will be used to optimize MAC's balance sheet and de-lever by retiring its existing $145M mezzanine debt facility. Upon settlement of the placement, MTAL will be well capitalized with a pro-forma 30 September 2024 cash balance of ~$177M. “Following the acquisition of CSA in mid-2023 and listing on the ASX in early 2024, MAC has placed greater focus on optimising its balance sheet and determining an appropriate capital structure more reflective of the strong asset quality and the markedly improved credit proposition that MAC today represents compared to mid-2023." said CEO, Mick McMullen. The stock price dropped ~5.7% on Tuesday during after hours of trade. More on Metals Acquisition Seeking Alpha's Quant Rating on Metals Acquisition Limited Historical earnings data for Metals Acquisition Limited Financial information for Metals Acquisition Limited Recommended For
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News
- Metals Acquisition Limited Announces Results of Annual General MeetingBusiness Wire
- Metals Acquisition Limited Announces 2024 Annual General Meeting – Chair and CEO PresentationBusiness Wire
- Metals Acquisition Limited's (NYSE:MTAL) top owners are retail investors with 40% stake, while 32% is held by institutions [Yahoo! Finance]Yahoo! Finance
- Metals Acquisition Limited Reports Drill Results Including 19.8m @ 10.9% Cu, 27.3m @ 8.7% Cu, 3.8m @ 17.1% Cu and 23.6m @ 5.2% CuBusiness Wire
- Metals Acquisition Limited Announces September 2024 Quarterly ReportBusiness Wire