Ioneer Invites Shareholders to Join A$5 Million Share Purchase Plan at A$0.10
Ioneer Ltd has launched a non-underwritten Share Purchase Plan (SPP) aiming to raise up to A$5 million, offering eligible shareholders in Australia and New Zealand the chance to buy shares at the same price as a recent institutional placement.
- Non-underwritten SPP targeting ~A$5 million
- Shares priced at A$0.10, matching recent placement
- Eligible shareholders can apply up to A$30,000
- Proceeds to fund project readiness and environmental costs
- SPP closes 10 July 2025, shares trade from 18 July
Context and Capital Raising Strategy
Ioneer Ltd (ASX – INR), a lithium and boron mining company, has opened a Share Purchase Plan (SPP) following a successful institutional placement that raised approximately A$25 million. The SPP aims to raise an additional A$5 million by offering existing eligible shareholders in Australia and New Zealand the opportunity to purchase new shares at A$0.10 each, the same price as the recent placement.
Details of the Share Purchase Plan
The SPP is non-underwritten and voluntary, allowing shareholders to apply for up to A$30,000 worth of shares without brokerage or transaction fees. The offer is open to shareholders registered as of 7 – 00pm Sydney time on 12 June 2025, excluding those in the United States due to regulatory restrictions. Applications must be submitted by 5 – 00pm Sydney time on 10 July 2025, with shares expected to be issued and commence trading on the ASX by 18 July 2025.
Use of Funds and Project Advancement
Proceeds from both the institutional placement and the SPP will be directed towards advancing the Rhyolite Ridge Lithium-Boron Project. Specifically, funds will support project readiness activities, environmental and permitting expenses, other project-related costs, as well as working capital and general corporate purposes. This capital injection is critical for progressing the project through key development milestones.
Shareholder Considerations and Risks
Participation in the SPP is optional and non-transferable. Shareholders should be aware that the market price of shares may fluctuate between the offer and issue dates, potentially affecting the value of their investment. The company retains discretion to accept applications that may result in raising more or less than the targeted A$5 million and may scale back applications if necessary. Eligible shareholders are encouraged to review the full terms and seek independent advice before participating.
Regulatory and Legal Framework
The SPP complies with the ASIC Corporations Instrument and is governed by New South Wales law. Importantly, shares offered under the SPP are not registered under the U.S. Securities Act and cannot be offered or sold in the United States. The company has provided detailed terms and conditions in the SPP booklet, which has been dispatched to eligible shareholders.
Bottom Line?
As Ioneer advances its lithium-boron project, the success and uptake of this SPP will be a key indicator of shareholder confidence and the company’s funding momentum.
Questions in the middle?
- Will the SPP reach its A$5 million target or face scale-back?
- How will the market react to the dilution from the combined placement and SPP?
- What are the next operational milestones for the Rhyolite Ridge project following this capital raise?
