July 21, 2025 (Source) — Australian Strategic Materials Limited (ASM or the Company) (ASX:ASM) refers to the underwritten Share Purchase Plan Offer (SPP Offer), as defined in the SPP Offer Booklet released to ASX on 19 June 2025 (SPP Offer Booklet).
The Company advises that the SPP Offer closed on Thursday, 17 July 2025, raising total proceeds of A$11,862,000 million (before costs) substantially exceeding the target amount of A$3 million. The Directors have elected to accept the oversubscription amount.
The decision followed extremely strong demand for the SPP Offer and reflects the Company’s commitment to its supportive retail shareholders. The additional funding enables ASM to accelerate key strategic initiatives such as a potential US expansion off the back of recent news in the global rare earths market.
Capitalised terms not otherwise defined in this announcement have the meaning given to them in the SPP Offer Booklet.
The SPP Offer Shares will be issued on 24 July 2025 (Issue Date) and are expected to commence trading on ASX on a normal basis from market open on 25 July 2025. The SPP Offer Shares will rank equally with existing Shares then on issue. All Directors of the Company eligible to participate in the SPP Offer have elected to do so.
As set out in the SPP Offer Booklet, the SPP Offer Shares will be issued at a 20% discount to the volume weighted average market price (as defined in the ASX Listing Rules) of Shares, calculated over the last five days on which sales in the Shares are recorded before the Issue Date.
“We are thrilled by the response to ASM’s Share Purchase Plan, which was significantly oversubscribed – a clear and powerful endorsement from our shareholders. This exceptional level of support reflects confidence in ASM’s strategic vision and our pivotal role in the global rare earths supply chain.
“With rare earths gaining unprecedented momentum – highlighted by landmark developments such as the MP Materials and U.S. Department of Defense partnership – it’s clear the world is seeking secure, sustainable alternatives. ASM’s integrated mine to metals strategy positions us uniquely to meet this demand.
“In recognition of this strong shareholder backing, we are pleased to accept a greater allocation under the SPP. These funds will enable us to accelerate key strategic initiatives, including the ramp up of our Korean Metals Plant, potential US expansion and the Heap Leach Option,” said Ms Rowena Smith, Managing Director and CEO.
Not for release to US wire services or distribution in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
Investors
Stephen Motteram
CFO, ASM Ltd
+61 8 9200 1681
Media
Ian Donabie
Manager Communications
+61 424 889 841
[email protected]
This announcement has been authorised for release to the market by the Board.
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