Lindian raises ~$6M from options exercise and underwriting following $100M placement [Yahoo! Finance]
ILUKA RES LTD UNSP/ADR (ILKAY)
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Source: Yahoo! Finance
Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has raised about A$6 million through the exercise and underwriting of 17.3 million unlisted options that expired on April 3, 2026, leaving the company with no options on issue following their conversion. About 14.42 million options were exercised by holders, while Petra Capital Pty Ltd underwrote the remaining 2.88 million options, contributing about A$1 million in gross proceeds at an exercise price of A$0.35 each. The underwriting agreement is on standard commercial terms and includes customary termination events, including a 10% fall in the S&P/ASX 300 Index. The options expired at 5pm WST on April 3, 2026, with settlement of shares under the underwriting agreement expected on April 14, 2026, and issue of those shares expected on or around the same date. The proceeds from the options, together with cash at bank and its recent A$100 million institutional placement, will further strengthen the balance sheet. The company plans to u
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