Metallium Secures AU$75 Million in Strategic Capital Raising; Shares Fall 5%

MT Newswires Live

01/21

Metallium (ASX:MTM) has successfully secured AU$75 million through a strategic capital raising, with funding led by US-based institutional investors, at an issue price of AU$0.84 per share, representing an 8.8% discount to the five-day volume-weighted average price, according to a Wednesday filing with the Australian bourse.

The funds will be used to expand the company's US operations, enhance processing capacity, secure feedstock, grow the workforce, and advance its flash joule heating technology, as well as facilitating the company's scale-up and planned Nasdaq listing, the filing added.

The company's shares fell 5% in recent Wednesday trade.

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