ASX Reinstatement Hangs on Pending Acquisitions After InVert’s Capital Raise
InVert Graphite has successfully completed a $3.5 million public share offer, meeting a key condition for its ASX reinstatement and advancing its strategic acquisitions.
- Raised A$3.5 million via issuance of 116.7 million shares at A$0.03 each
- Offer included participation from existing directors and nominees
- Received conditional reinstatement letter from ASX
- Progressing acquisitions of Exceptional Graphite, White Hill Licences, EGR Tanzania, and Green Valley
- Working with ASX to satisfy remaining reinstatement conditions
Capital Raise Completes Successfully
InVert Graphite Limited (ASX: IVG) has announced the successful completion of its public offer, issuing 116,666,667 fully paid ordinary shares at 3 cents each. This capital raise generated A$3.5 million before costs, representing the maximum subscription under the offer. Notably, 4.5 million shares were allocated to existing directors and their nominees, reflecting continued insider confidence and shareholder approval.
Key Step Toward ASX Reinstatement
The completion of this offer satisfies a crucial condition for the company’s reinstatement to trading on the Australian Securities Exchange. InVert Graphite has received a conditional reinstatement letter from the ASX, signaling progress but also highlighting that further conditions remain outstanding. The company is actively collaborating with the exchange to meet these requirements and keep the market informed.
Strategic Acquisitions in Progress
Alongside the capital raise, InVert Graphite is advancing several acquisitions that underpin its growth strategy. These include the acquisition of Exceptional Graphite, the White Hill Licences, EGR Tanzania, and Green Valley. These assets are expected to enhance the company’s graphite resource base and operational footprint, positioning it for future development in the materials sector.
Outlook and Market Implications
While the successful raise and conditional reinstatement mark positive milestones, the timeline for final ASX reinstatement and completion of acquisitions remains uncertain. Investors will be watching closely for updates on these fronts, as well as how the company deploys the newly raised funds to accelerate its projects. The involvement of directors in the offer may also be viewed as a vote of confidence amid the company’s ongoing transformation.
Bottom Line?
InVert Graphite’s capital raise clears a major hurdle, but the path to full ASX reinstatement and acquisition completion still holds questions.
Questions in the middle?
- When will InVert Graphite complete the acquisitions of Exceptional Graphite and related assets?
- What are the remaining conditions for ASX reinstatement and the expected timeline?
- How will the company allocate the A$3.5 million raised to maximize shareholder value?
