By Devika Patel
Knoxville, Tenn., Nov. 20 - Moly Mines Ltd. said it plans two private placements of shares to raise A$88 million.
The company will sell a total of 22 million shares at A$4.00 per share. Of those, 17.1 million shares will be issued to Harbinger Capital Partners Master Fund I. Ltd. and Harbinger Capital Partners Special Situations Funds, LP. The remaining 4.9 million shares will be sold to clients of BBY Ltd. and Paradigm Capital Inc. BBY was the lead manager of the deal.
Following the placement, Harbinger will hold a 19.9% interest in the company.
Proceeds will be used for pre-construction activities.
Based in West Perth, Western Australia, Moly Mines is exploring and evaluating its molybdenum, gold and tantalum ground holdings.
| Issuer: | Moly Mines Ltd.
|
| Issue: | Shares
|
| Amount: | A$88 million
|
| Shares: | 22 million
|
| Price: | A$4.00
|
| Warrants: | No
|
| Manager: | BBY Ltd. (lead)
|
| Pricing date: | Nov. 20
|
| Stock symbol: | Australia: MOL
|
| Stock price: | A$4.33 at close Nov. 20
|
|
|
| First deal
|
| Amount: | A$68.4 million
|
| Shares: | 17.1 million
|
| Investor: | Harbinger Capital Partners Master Fund I. Ltd., Harbinger Capital Partners Special Situations Funds, LP
|
|
|
| Second deal
|
| Amount: | A$19.6 million
|
| Shares: | 4.9 million
|
| Investor: | BBY Ltd., Paradigm Capital Inc.
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
