Australia’s Syrah Resources said on Wednesday it would raise A$98 million through a placement and an entitlement offer for funding its Balama graphite operations in Mozambique and its US-based Vidalia project.
AustralianSuper had committed to subscribing for all shares under the placement and taking up its full pro-rata entitlement in the institutional entitlement offer, the company said. The company said it had agreed with AustralianSuper to the conversion of series 1 and 3 notes into new shares at a revised conversion price of A$0.6688 per share.
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