Almonty Cuts Shares by One-Third to About 196 Million Ahead of Nasdaq Bid
Almonty Industries has announced a 1-for-1.5 share consolidation approved by shareholders to streamline its capital structure in preparation for a potential Nasdaq listing.
- 1-for-1.5 share consolidation approved by shareholders
- Approximately 195.9 million shares outstanding post-consolidation
- Consolidation effective July 7, 2025, pending TSX approval
- Trading adjustments on TSX and ASX scheduled mid-July
- Move intended to facilitate potential Nasdaq listing
Share Consolidation to Simplify Capital Structure
Almonty Industries Inc., a global tungsten concentrate producer, has announced a 1-for-1.5 share consolidation, a move approved by shareholders earlier this year. This consolidation will reduce the total number of issued and outstanding shares to approximately 195.9 million, streamlining the company's capital structure ahead of a potential listing on the Nasdaq exchange.
The consolidation is set to take effect on July 7, 2025, subject to final approval from the Toronto Stock Exchange (TSX). Following this, trading on the TSX will reflect the new share count, with the Australian Securities Exchange (ASX) adjusting trading of CHESS Depositary Interests accordingly in mid-July.
Strategic Move Towards Nasdaq Listing
The primary driver behind the consolidation is to facilitate Almonty’s potential Nasdaq listing, a strategic step that could enhance the company’s visibility and access to capital markets in the United States. By consolidating shares, Almonty aims to meet listing requirements and present a more attractive share price range to investors.
Adjustments will also be made to all convertible securities, including stock options and warrants, to reflect the new share structure. Shareholders holding fractional shares resulting from the consolidation will see these rounded down, with no fractional shares issued.
Ongoing Global Tungsten Operations
Almonty continues to advance its mining operations globally, with active projects in Portugal’s Panasqueira Mine and the under-construction Sangdong Mine in South Korea, historically one of the world’s largest tungsten mines. Additional development projects in Spain further diversify the company’s resource base.
This consolidation and potential Nasdaq listing come at a time when Almonty is positioning itself to capitalize on growing demand for tungsten, a critical metal with limited supply outside China. The company’s moves could signal confidence in its growth prospects and operational progress.
Next Steps and Market Implications
Investors should watch for the TSX’s final approval of the consolidation and any announcements regarding the Nasdaq listing timeline. The share consolidation may influence trading liquidity and market perception, making it a key event for shareholders and market watchers alike.
Bottom Line?
Almonty’s share consolidation sets the stage for a potential Nasdaq debut, signaling a pivotal moment in its growth trajectory.
Questions in the middle?
- Will Almonty secure final TSX approval without delay?
- What is the timeline and likelihood of the Nasdaq listing materializing?
- How will the consolidation impact liquidity and investor demand post-listing?
