Metals Acquisition raises $103m through placement [Yahoo! Finance]
Metals Acquisition Corp (MTAL)
Company Research
Source: Yahoo! Finance
The funds, raised through an oversubscribed placement of 8.33 million new CHESS Depository Interests (CDIs) at A$18 each, will strengthen the company's financial position following the mid-2023 acquisition of the CSA copper mine from Glencore. The capital raise provides Metals Acquisition with the necessary resources to optimise its balance sheet and reduce leverage. Additionally, it affords the company greater flexibility to explore strategic growth opportunities. The placement's proceeds, combined with existing cash reserves, will facilitate the early retirement of an existing mezzanine debt facility, contingent on obtaining the necessary consents. The issue price for the placement was set at a 13% discount to the closing price of CDIs on the Australian Securities Exchange (ASX), which was A$20.70, as well as the five-day volume weighted average price as of 8 October 2024. Barrenjoey Markets served as the sole lead manager and bookrunner for the placement, with Sternship
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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