- Liontown Resources (ASX:LTR) completes its SPP, announced on October 19, 2023, raising $13.8 million
- New shares were offered at a discounted price of $1.47
- A total of 9,419,321 new shares will be issued
- Funds will be allocated toward propelling the Kathleen Valley project forward
- LTR last traded at $1.40
Liontown Resources (ASX:LTR) has completed its share purchase plan (SPP), announced on October 19, 2023, raising $13.8 million.
Under the agreement, each share was priced at a discounted $1.47, representing a two per cent markdown from the five-day volume-weighted average price of Liontown shares leading up to the SPP’s closing on November 20, 2023.
A total of 9,419,321 new shares will be issued, expected to debut on the ASX on November 28, 2023.
“On behalf of the board, we are pleased to have provided eligible shareholders the opportunity to participate in the SPP following the institutional placement and I would like to thank shareholders for the ongoing support they have shown the company,” LTR Managing Director and CEO Tony Ottaviano said.
The latest funding, together with the $365 million raised from the institutional placement, aims to propel the Kathleen Valley project forward, securing resources not only for its development but also for sustained operations leading up to its first production and beyond.
LTR last traded at $1.40.