Carbine Issues 593 Million Shares, Raises $1.78 Million in Capital Raise
Carbine Resources has successfully raised $1.78 million through a pro-rata entitlement offer and shortfall placement, setting the stage for further shareholder approval in August.
- Pro-rata non-renounceable entitlement offer closed with $264,503 accepted
- Shortfall placement raised an additional $837,727
- Further $678,154 raised via additional share placement
- Total of 593 million shares issued or to be issued
- Second tranche of 145 million shares subject to shareholder approval in August
Capital Raising Completed
Carbine Resources Limited (ASX – CRB) has announced the successful completion of its pro-rata non-renounceable entitlement offer, raising a total of approximately $1.78 million. The offer, which invited eligible shareholders to subscribe for two new shares for every three shares held at a price of $0.003 per share, closed on 11 June 2025.
The company received acceptances amounting to $264,503 from shareholders, while the shortfall, shares not taken up, was fully placed, raising an additional $837,727. Furthermore, Carbine secured $678,154 through an additional placement of new shares at the same price.
Share Issuance and Next Steps
In total, Carbine will issue 593,461,278 shares, combining accepted entitlements, shortfall placements, and additional placements. The shares issued under the entitlement offer and shortfall placement are being allotted immediately, with the additional placement shares to be issued in two tranches.
The first tranche of 81 million shares will be issued using the company’s existing placement capacity. The second tranche, comprising 145 million shares, is subject to shareholder approval at a general meeting planned for early August 2025. This step underscores the company’s commitment to maintaining transparency and securing shareholder support for its capital structure changes.
Implications for Shareholders and the Company
All new shares will rank equally with existing ordinary fully paid shares, ensuring parity among shareholders. While the announcement does not specify the precise use of the funds raised, this capital injection is likely aimed at supporting ongoing exploration and development activities, consistent with Carbine’s mining sector focus.
The successful placement of the shortfall and additional shares suggests strong investor appetite, yet the upcoming shareholder meeting will be pivotal in determining the final shape of the company’s capital base. Investors will be watching closely for any commentary from the board or management on how these funds will be deployed to drive value.
Bottom Line?
Carbine’s capital raise strengthens its balance sheet but hinges on shareholder approval to fully realise its funding ambitions.
Questions in the middle?
- What specific projects or operational needs will the new capital support?
- How might the additional share issuance impact existing shareholder dilution?
- What is the board’s outlook on market conditions ahead of the August shareholder meeting?
