Almonty Industries (ALM) said Monday it filed a preliminary prospectus supplement in connection with a proposed US public offering of 15 million common shares, with an underwriter option for up to 2.25 million additional shares.
Proceeds will fund project development and general corporate purposes, according to a statement.
Shares of the company were down 14% in after-hours trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.