Ann: Completion of Retail Entitlement Offer, page-3

ASX / MEDIA ANNOUNCEMENT THURSDAY, 14 JANUARY 2021
SUCCESSFUL COMPLETION OF RETAIL ENTITLEMENT
OFFER
HIGHLIGHTS
• Approximately A$60.6 million raised from the underwritten Retail Entitlement
Offer.
• Total proceeds raised from the Entitlement Offer were approximately A$121.3
million, including the proceeds from the Institutional Entitlement Offer.
• Together, with the cornerstone placement, approximately A$240.2 million was
raised, with proceeds being used to fund the acquisition of all shares in Altura
Lithium Operations Pty Ltd (ALO), the entity which owns Altura’s Pilgangoora
Lithium Project (Altura Project).
• Acquisition of ALO expected to complete on or before Friday, 22 January 2021.
Pilbara Minerals Limited (Pilbara Minerals or the Company) (ASX: PLS) is pleased to
announce the successful completion of the retail component (Retail Entitlement Offer)
of its underwritten 1 for 7.6 pro-rata accelerated non-renounceable entitlement offer of
fully paid ordinary new shares (New Shares) which was launched on Monday, 14
December 2020 (Entitlement Offer).
The underwritten Retail Entitlement Offer closed on Monday, 11 January 2021 and is the
final component of the capital raising supporting Pilbara Minerals’ acquisition of all of the
shares in ALO and the Altura Project. It raised approximately A$60.6 million at the offer
price of A$0.36 per New Share (Offer Price). Together with the institutional component of
the Entitlement Offer (Institutional Entitlement Offer) which closed in late December
2020, the total amount raised under the Entitlement Offer is approximately A$121.3million.
Eligible retail shareholders subscribed for approximately 125.0 million New Shares under
the Retail Entitlement Offer. The remaining 43.2 million New Shares not taken up under
the Retail Entitlement Offer have been allocated to sub-underwriters, AustralianSuper Pty
Ltd in its capacity as trustee for AustralianSuper (AustralianSuper) and Resource Capital
Fund VII L.P. (RCF VII).
Approximately 168.2 million New Shares will be issued under the Retail Entitlement Offer
and will rank equally with existing shares on issue. The New Shares are expected to be
allotted on Monday, 18 January 2021 and commence trading on the Australian Securities
Exchange (ASX) on the same day.
Pilbara Minerals’ Managing Director and CEO, Ken Brinsden, said:
“We are delighted with the level of support we have received from retail shareholders
and are pleased to now confirm the successful completion of the Entitlement Offer.
We thank both our institutional and retail shareholders for their continued support,