King & Wood Mallesons (KWM) is delighted to have advised Australian Strategic Materials Limited (ASM) on its equity raising, which comprises an institutional placement and traditional pro-rata non-renounceable entitlement offer (Offer).
ASM is targeting to raise up to A$20.2m under the Offer, using the proceeds to help demonstrate required co-commitments to unlock government funding that will help it progress towards final investment decision for its flagship Dubbo Project, which aims to supply critical rare earths from within Australia.
KWM drew from specialist expertise across its market leading Equity Capital Markets (ECM) team to assist ASM to structure and secure crucial equity funding from existing and new investors. KWM continues to advise clients on market-leading public ECM transactions amid challenging conditions in equity markets.
Partners Antonella Pacitti, Roger Davies and Amanda Isouard led the matter for KWM, together with Senior Associate Jacob Carmody, Solicitors Cairo Leicester, Tom Carmody, Maddison Hogan, and Graduate Jihoo Lee, with additional specialist advice from Tax Partner Greg Protektor and Partner Ian Paterson and Senior Associate Kathryn Tomasic from our Financial Markets team.
Commenting on the deal, Partner Antonella Pacitti said:
“We are delighted to be able to support ASM in its pursuit of key project development objectives in the critical minerals sector. This transaction builds on a longstanding and important relationship with ASM, its predecessors and its key stakeholders.”
