trending Market Intelligence /marketintelligence/en/news-insights/trending/7plv_mjxciudgvfdc7vtqw2 content esgSubNav
In This List

Lepidico raising A$7.9M in rights offer to fund growth, development plans

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Lepidico raising A$7.9M in rights offer to fund growth, development plans

Lepidico Ltd. plans to raise approximately A$7.9 million from an entitlement offer on the basis of 1 new share for every 7 existing shares, according to a Sept. 3 release.

A maximum of 417,877,165 new shares at 1.9 cents apiece will be issued in the offering. The price represents a 24% discount to the stock's closing price of 2.5 cents on Aug. 31.

Shareholders will also receive 1 free attaching option for every 2 new shares, the company said.

Proceeds from the offer will be used to fund the construction and operation of Lepidico's L-Max pilot plant as well as associated development activities, including a scoping study. Funds will also be earmarked for drilling on its exploration prospects at Alvarroes in Portugal and Youanmi in Western Australia.

Lepidico expects to close the offer on Sept. 25.