KWM assists ASM on equity raising

The raising aims to raise up to $20.2m to help ASM obtain access to government funding

KWM assists ASM on equity raising

King & Wood Mallesons (KWM) has assisted Australian Strategic Materials Limited (ASM) on an equity raising that will help the company to obtain access to government funding.

The raising consists of an institutional placement and a pro-rata non-renounceable entitlement offer. ASM plans to raise up to $20.2m through this offer.

The funds will be used to fulfil co-commitment conditions necessary to secure government funding. The governments funds will support ASM's advancement towards a final investment decision for the Dubbo Project, which is ASM’s flagship project.

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The project intends to supply critical rare earths in Australia.

KWM’s ECM experts assisted ASM in structuring and securing equity funding from both current and new investors. Partners Antonella Pacitti, Roger Davies and Amanda Isouard led the firm’s team on this transaction alongside senior associate Jacob Carmody and solicitors Cairo Leicester, Tom Carmody, Maddison Hogan and graduate Jihoo Lee. Tax partner Greg Protektor also provided specialist advice, as did financial markets partner Ian Paterson and senior associate Kathryn Tomasic.

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