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Southern Palladium Limited (ASX:SPD)

ALERT: Price-sensitive ASX Announcement for SPD
Current share price for SPD : $1.200 -0.05 (-4%)+
Announcement
Release
20 Oct 2025 10:08AM
Price at Release
$1.250
Full Release
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Summary
Southern Palladium Limited announced a successful capital raise of A$20 million through a two-tranche placement of 18,181,819 new ordinary shares, priced at A$1.10 per share, which represents a 2.7% discount to the 15-day VWAP. The placement, supported by new global institutional investors and the company's largest shareholder, along with existing shareholders, aims to fund the progression of the Definitive Feasibility Study (DFS) and mine development at the Bengwenyama PGM project. Additionally, a Share Purchase Plan (SPP) will allow retail shareholders to acquire shares at the placement price, capped at A$1 million. The raised funds will be used for DFS work, mine development activities, and achieving a Final Investment Decision. The first tranche of shares will be issued under the company's existing capacity, while the second tranche is subject to shareholder approval.
Key Points
  • A$20 million raised through a two-tranche placement.
  • Placement price set at A$1.10, a 2.7% discount to 15-day VWAP.
  • Funds to accelerate DFS and mine development at Bengwenyama PGM project.
  • Three new global institutional investors and largest shareholder participated.
  • Share Purchase Plan (SPP) for retail shareholders capped at A$1 million.
  • First tranche under existing capacity, second tranche requires shareholder approval.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.