Altona Rare Earths plc raised £177,700 before expenses, through the issue of 1,480,836 new ordinary shares at an issue price of 12 pence per share, a 29% premium to the closing share price on 18 June 2021.
The company is issuing 740,419 warrants, on a one warrant for every two shares purchased basis, to the placees, with a strike price of 20 pence and an expiry date of 31 March 2023.