TerraCom Limited’s A$15 million equity raising

Ashurst has advised TerraCom Limited in relation to an accelerated non-renounceable entitlement offer on a 3 for 13 basis at A$0.215 per share to raise up to A$15 million.

The Rights Issue is fully underwritten by Gleneagle Securities (Aust) Pty Limited acting as the Lead Manager and Underwriter, and is fully sub-underwritten by Bonython Coal No 1 Pty Limited.

The proceeds from the funds raised will be used to strengthen TerraCom’s financial position, including expediting the Blair Athol rail line construction.

The Ashurst team was led by partners Elspeth Arnold (picture) and Shane Kyriakou (Corporate), and included partner Antonella Pacitti, senior associate Brooke Coghlan and lawyer Hannah Fitzpatrick (Corporate).

Involved fees earner: Elspeth Arnold – Ashurst; Shane Kyriakou – Ashurst; Antonella Pacitti – Ashurst; Brooke Coghlan – Ashurst; Hannah Fitzpatrick – Ashurst;

Law Firms: Ashurst;

Clients: TerraCom Limited;


Author: Michael Patrini