PERTH (miningweekly.com) – Triple-listed Jervois Global has completed the institutional placement and the institutional component of its 1-for-5.42 pro-rata accelerated non-renounceable entitlement offer, raising some A$177-million across the two offers.
The company earlier this week announced a A$231-million equity capital raise to fund the Stage 1 restart of its São Miguel Paulista nickel cobalt refinery in São Paulo, Brazil, and the ramp-up and capital expenditure at its Idaho Cobalt Operations.
Jervois noted that the institutional entitlement offer had a take-up rate of approximately 80%.
Meanwhile, the retail component of the entitlement offer has been fully underwritten and will raise an additional A$54-million. The retail offer will open on November 17 and close on November 30.