InvestmentMay 14, 2026, 08:06 AM
Elevra Lithium Completes A$275M Institutional Placement
AI Summary
Elevra Lithium Limited successfully completed an underwritten A$275 million institutional placement by issuing approximately 22.5 million new shares at A$12.20 each. The placement, which received strong support from existing and new institutional investors, will fund the North American Lithium (NAL) Brownfield Expansion project and advance Moblan pre-development activities. The issue price represented an 11.2% discount to the last close price. The company also plans a Share Purchase Plan for eligible Australian and New Zealand shareholders to raise up to an additional A$20 million.
Key Highlights
- Elevra Lithium successfully completed an underwritten A$275 million institutional placement.
- Approximately 22.5 million new shares were issued at A$12.20 per share.
- The issue price represents an 11.2% discount to the last close and an 8.7% discount to the 5-day VWAP.
- Funds will fully finance the NAL Brownfield Expansion project and Moblan pre-development activities.
- New shares are expected to settle on May 15, 2026, and commence trading on ASX on May 18, 2026.
- Elevra will offer a Share Purchase Plan to raise up to A$20 million for eligible shareholders.