- Talga Group (ASX:TLG) is offering eligible shareholders the opportunity to participate in an SPP to raise approximately $15 million
- The SPP allows shareholders to acquire new fully paid ordinary shares at $1.00 per each, a nine per cent discount to the last closing price
- Funds raised will be used for critical development activities, including the Vittangi anode project in Sweden
- The SPP is open from November 6 to November 24
- Talga Group shares last traded at $1.02
Talga Group (ASX:TLG) has launched a share purchase plan (SPP) with the aim of raising approximately $15 million.
Under the SPP, eligible shareholders have the chance to purchase new Talga shares at a price of $1.00 each.
This price represents a nine per cent discount compared to the last closing price of $1.09 on November 3, 2023, and a 10 per cent discount compared to the average market price over the last ten days before the SPP was announced.
The funds raised through the SPP will be allocated to advance critical path development activities for the Vittangi anode project in Sweden.
Shareholders eligible to participate in the SPP are those with a registered address in Australia or New Zealand, who are not in the United States or acting for the account or benefit of a person in the United States and were registered as shareholders as of the record date, which was November 3, 2023.
The SPP opens on November 6, 2023, and is anticipated to close on November 24, 2023.
The allotment of new shares under the SPP will be made at the Board’s discretion, and there may be a scale-back of applications.
Talga Group shares last traded at $1.02.