Coronado Global Resources Announces A$250 million Equity Raising

Coronado Global Resources Inc (ASX:CRN) has announced a fully underwritten A$250 million equity raising for providing additional financial flexibility in response to current market due to global COVID-19 pandemic.

The company highlighted that proceeds of the Offer shall be used to repay drawn balances from the Syndicated Facilities Agreement.

The Offer shall comprise-

  • a fully underwritten placement to institutional investors (including institutional securityholders) to increase A$145 million; and
  • a fully underwritten 2 for 11 Entitlement Offer to raise A$105 million (Entitlement Offer).

The Offer, in conjunction with the Syndicated Facilities Agreement (SFA) waiver extension, is anticipated to well-place CRN for any future recovery in metallurgical coal prices.





Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK