Eurobattery Minerals Secures SEK 21.3 Million in Rights Issue

Eurobattery Minerals AB has announced the outcome of its recent rights issue, securing approximately SEK 21.3 million. The rights issue aimed to raise SEK 35.5 million, resulting in a subscription rate of around 60%. The proceeds will fund a feasibility study for the Finnish Hautalampi battery mineral project, debt repayment, and working capital.

The rights issue consisted of 50,764,348 units, each including seven shares and four warrants. About 40.5% of the units were subscribed with rights, and 1.2% without rights. Additionally, underwriting commitments for 18.2% of the issue were activated.

The company's share capital will increase substantially, with shares expected to rise from 152,293,044 to 365,417,921. This results in a dilution of around 58.3% for non-participating shareholders. Advisers for this transaction include Augment Partners AB and Advokatfirman Schjødt.