Adriatic Metals’ $102 Million Equity Fundraising

Locke Lord advised Adriatic Metals on the deal.

Adriatic Metals Plc,a U.K.-based precious and base metals explorer and developer, announced its equity fundraising of $102 million.

Adriatic raised gross proceeds of approximately $52 million through a placing with institutional investors and $50 million from a conditional equity subscription by Orion Resource Partners LLP, a global alternative investment management firm.

In addition to the placing, Sandfire Resources Limited sold its entire holding in the company in a secondary sale. Canaccord Genuity Limited, RBC Europe Limited and Stifel Nicolaus Europe Limited acted as joint bookrunners in the placing.

The Locke Lord team was led by James Channo (Picture) and assisted by Nick Jennings. Additional team members included Peter Wilkieand Charlotte Whitley-Roberts (both of London) and Rob Evans (New York).

Involved fees earner: James Channo – Locke Lord; Rob Evans – Locke Lord; Nicholas Jennings – Locke Lord; Peter Wilkie – Locke Lord;

Law Firms: Locke Lord;

Clients: Adriatic Metals PLC;

Author: Martina Bellini