Heavy Minerals (ASX:HVY) raised AU$100,000 via its at-the-market subscription agreement with Acuity Capital announced last Aug. 8, 2024, according to a March 21 filing with the Australian bourse.
In line with this, the company set off 385,000 collateral shares previously issued to Acuity Capital under the agreement at a deemed price of AU$0.26 per share.
This reduces the 3.3 million Heavy Minerals collateral shares that Acuity Capital is required to return to the company upon termination or maturity of the subscription agreement, per the filing.
Proceeds will be used for general working capital.
Heavy Minerals' shares were up nearly 2% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.