Metals Acquisition raises A$150m in placement
NYSE- and ASX-listed Metals Acquisition (MAC) has announced a capital raising of A$150-million.
Proceeds of the placement, together with existing cash, will enable MAC to optimise its balance sheet and de-lever following the acquisition of the CSA copper mine, in Australia, from Glencore in mid-2023, while also providing additional flexibility to pursue strategic inorganic growth opportunities.
MAC received firm commitments through an oversubscribed placement of 8.33-million new CHESS depository interests (CDIs) at an issue price of A$18 per new CDI.
The placement issue price represents a 13% discount to both the closing price of CDIs on ASX of A$20.70 on October 8 and the five-day volume-weighted average price of A$20.70 on the same day.
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