Neometals (ASX / AIM: NMT)

Announced that it has received firm commitments from sophisticated, professional
and institutional investors for its placement of 44,444,445 new fully paid ordinary shares at A$0.09 per New Share to raise approximately A$4 million (before costs).

 

 

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Neometals Successfully Closes A$4 Million Placement and Announces Entitlement Offer

 

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Neometals Ltd (ASX: NMT & AIM: NMT) (“Neometals” or “the Company”), is pleased to announce that it has received firm commitments from sophisticated, professional
and institutional investors for its placement of 44,444,445 new fully paid ordinary shares (New Shares) at A$0.09 per New Share to raise approximately A$4 million (before costs) (Placement).

 

 

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Neometals Managing Director Chris Reed commented:

“We are pleased to announce the Entitlement Offer and conclusion of the Placement which was supported by new and existing sophisticated investors and institutions.

 

“The capital raising will reinforce commercialisation activities by Neometals’ battery recycling plant building joint venture, Primobius, as it delivers its maiden plant for Mercedes-Benz.

 

“The successful validation of our process and plant supply business model at scale is the precursor to offering commercial plants to our growing pipeline of current and
prospective customers and technology licence holders.

 

“Neometals management appreciates the long-term support and efforts of lead manager Euroz Hartleys as well as further investment from existing shareholders”.

 

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Placement

A total of 44,444,445 New Shares will be issued under the Placement at a price of A$0.09 per New Share (Offer Price) under NMT’s ASX Listing Rule 7.1 placement capacity.

The total number of New Shares to be issued under the Placement represents approximately 6.4% per cent of the Company’s existing issued share
capital (prior to the issue of the New Shares).

New Shares issued under the Placement will rank equally with existing NMT ordinary shares from their date of issue.

Settlement of the Placement is scheduled to occur on Thursday, 17th October 2024. Allotment and normal trading of the New Shares under the Placement is scheduled to occur on Friday, 18th October 2024.

New Shares issued under the Placement do not have rights to participate in the Entitlement Offer.

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To View Neometal’s historical news, please click here

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Disclosure

At the time of writing the author holds no shares in Neometals.

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Neometals (ASX / AIM: NMT)

Intends to undertake a capital raising by way of a placement of new fully paid ordinary shares to sophisticated, professional and institutional investors to raise approximately A$7.0 million and a non-renounceable entitlement issue of New Shares to eligible shareholders in Australia and New Zealand  to raise up to approximately A$13 million.

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Neometals	ASX / AIM : NMT
Stage	Production + development
Metals	Titanium + Vanadium + lithium + nickel
Market cap	A$138 m   @ A$0.25
Location	Western Australia, Germany, Finland, USA

 

Neometals Launches Placement and Entitlement Offer

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Neometals Ltd (ASX: NMT & AIM: NMT) (“NMT”or “the Company”) announces that it intends to undertake a capital raising by way of:
• a placement of new fully paid ordinary shares (New Shares) to sophisticated, professional and institutional investors to raise approximately A$7.0 million (before costs) (Placement); and
• a non-renounceable entitlement issue of New Shares to eligible shareholders in Australia and New Zealand (Eligible Shareholders) to raise up to approximately A$13 million (before costs)

 

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Neometals Managing Director Chris Reed commented:

“We have not raised equity capital for 11 years and welcome new investors to join the register as well as those existing shareholders topping up their holdings.

 

“Not only will the Placement and Entitlement Offer allow us to bridge finance ahead of more material revenues to the Primobius JV, it also allows us to bolster what has historically been a retail dominated register.”

 

Placement

NMT proposes to raise approximately A$7.0 million under the Placement at a price of A$0.19 per New Share (Offer Price), which will be a total of approximately 36.8 million New Shares, that will be issued in accordance with NMT’s ASX Listing Rule 7.1 placement capacity.

New Shares issued under the Placement will rank equally with existing NMT ordinary shares from their date of issue. The Offer Price represents a discount of:
• 24.0% to the Company’s last closing price on 20 November 2023 of A$0.250; and
• 26.1% to the 5-day volume weighted average price of A$0.257.

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To read the full news release please click HERE

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