By Josh Beckerman
Critical Metals shares declined after the company announced an agreement for about $22.5 million of private placement equity financing.
The stock was recently down 29% to $6.15 and is down about 9% this year.
Critical Metals said the agreement will enable it to continue funding development plans for the Tanbreez Rare Earths Project in Greenland and the Wolfsberg Lithium Project in Austria.
The company is issuing about 4.5 million ordinary shares issued at an offer price of $5 each and warrants in an amount equal to 100% of the shares.
In connection with the transaction, Critical Metals agreed to remove anti-dilution provisions from certain senior convertible notes it plans to issue.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 06, 2025 13:34 ET (18:34 GMT)
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