Ionic Rare Earths Limited (ASX:IXR) Share Purchase Plan Results
Successful Share Purchase Plan
Ionic Rare Earths Limited (ASX: IXR) has announced the successful results of its Share Purchase Plan (SPP), which closed on 16 December 2024. The SPP followed a placement of over 206 million shares that raised $1.4 million.
The SPP allowed eligible shareholders to subscribe for up to $30,000 in new fully paid ordinary shares at $0.007 per share. Additionally, shareholders received options at an exercise price of $0.011, expiring on 15 December 2027.
Investment Response
IonicRE received strong support from shareholders, surpassing its initial target of $500,000. The company accepted all applicable applications, resulting in the issuance of 109,379,876 new shares and raising approximately $766,000.
Shares will be allotted and issued on 23 December 2024. The Board expressed gratitude towards shareholders for their support of the SPP.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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