Shaw and Partners appointed as Co-Manager to an equity capital raising by Atrum Coal News20 Apr 2020

Shaw and Partners has been appointed as Joint Bookrunner and Co-Manager to an equity capital raising by Atrum Coal Limited (ASX.ATU)

 

Atrum is undertaking a two Tranche Placement to raise up to approximately $20 million through the issue of up to approximately 86.9 million fully paid ordinary shares in the company.

 

Tranche 1 of the Placement will raise up to approximately $15.3 million via the issue of approximately 66.7 million new shares pursuant to the company’s existing placement capacity under ASX Listing Rule 7.1. Tranche 2 of the Placement will raise up to approximately $4.7m via the issue of approximately 20.2 million new shares subject to shareholder approval to be sought at an Atrum General Meeting, expected to be held on or around the third week of June 2020.

 

The offer price of A$0.23 per security represents a discount of 17.9% to Atrum’s last close (17 April 2020) of $0.28 per share and a 2.0% discount to the 5-day VWAP of $0.2347 per share.

 

Atrum Coal is an ASX-listed metallurgical coal development company. Its flagship asset is the 100%-owned Elan Hard Coking Coal Project, which is located in the Crowsnest Pass area of southern Alberta, Canada. Elan hosts large-scale, shallow, thick, Tier 1 hard coking coal (HCC) deposits of the Mist Mountain Formation.

 

The proceeds from the Placement along with cash reserves of approximately $5.5m will be sufficient to complete the Elan Pre-Feasibility Study over the next 12 months and for infill and exploration drilling, environmental studies, coal testing and working capital.

 

The offer is available to Australian resident Sophisticated and Professional Investor clients only.

 

For more information please speak to your Shaw and Partners adviser.

 

Related Articles
News18 Nov 2020 Shaw and Partners raids Wilsons private wealth team
Shaw and Partners is going to need a few more desks in its Sydney office.   Street Talk understands the stockbroking and advisory firm has raided Wilsons' private wealth arm, sna... Read More
News16 Nov 2020 Shaw and Partners appointed as Joint Lead Manager to the NAB Capital Notes 5 offer
National Australia Bank Limited (NAB) today announced its intention to raise $750 million through the offer of NAB Capital Notes 5 (NCN5), with the ability to raise more or less. N... Read More
News16 Nov 2020 Liberty Financial fronts funds for $1.8b float. Shaw and Partners appointed Co-Manager to the raising.
Look what the cat dragged in!   After more than 15 years in the initial public offering pipeline - and with the market trading at 20-times forward profit and float window wide op... Read More
News13 Nov 2020 Shaw and Partners extends its sponsorship of Women's National Basketball League Adelaide Lightning
Shaw and Partners is delighted to have extended its sponsorship of Women's National Basketball League (WNBL) team Adelaide Lightning for an additional three years.  The sponsorship... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%