REG - Aterian PLC - Issue of Convertible Loan Notes

AterianAnnouncement

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RNS Number : 4577W  Aterian PLC  12 March 2026

12 March 2026

 

Aterian plc

("Aterian" or the "Company" or the "Group")

 

Issue of Convertible Loan Notes

 

Aterian Plc (LSE: ATN), the critical metal-focused exploration and development
company, announces that it has issued £150,000 of convertible loan notes
("CLNs") with a maturity date of 31/12/2027 to a longstanding shareholder.

 

The CLNs are mandatorily convertible into Ordinary Shares of 10 pence each in
the Company ("Ordinary Shares") at a price of 25 pence per Ordinary Share on
or before the maturity date, have zero coupon, and are redeemable by the
Company at par at any time prior to their maturity date, subject to notice.
This redemption feature provides the Company with the flexibility and
optionality to repay the notes in cash should operational cash flows from
trading activities continue to remain positive, thereby potentially reducing
and/or eliminating dilution to shareholders from the capital raise.

 

Subscribers to the CLN will also receive 300,000 warrants (the "Warrants"), or
effectively 50% warrant coverage, with each Warrant exercisable at a strike
price of 32.5 pence per Ordinary Share. The Warrants will have a maturity date
of 15 February 2028 and a call feature should the Company's closing mid-price
exceed 50 pence for three consecutive trading days.

 

The Company intends to utilise the net proceeds from the CLN issue to support
the continued development of its trading operations, following the increase in
pricing for China Tantalum Concentrate 30% CIF, which has risen from US$101/lb
to US$212/mtu since year-end 2025.

Charles Bray, Executive Chairman of Aterian, commented:

"This capital injection strengthens the Company's balance sheet and provides
additional financial flexibility as we continue to advance our trading
initiatives. This redemption feature provides Aterian with cheap optionality
and the additional funds to acquire materials, which have more than doubled in
price over the past 10 weeks 1 . We remain focused on building value through
disciplined capital allocation and by progressing our projects across Africa.
We see dramatic moves in commodity demand and pricing and are focused on
providing the market with responsibly sourced critical minerals."

Further announcements will be made as appropriate.

- ENDS -

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

Engage directly with the Aterian PLC management team by asking questions,
watching video summaries, and seeing what other shareholders have to say.
Please navigate to our interactive investor hub here:
https://aterianplc.com/s/fcf8eb (https://aterianplc.com/s/fcf8eb)

 

For further information, please visit the Company's website:
www.aterianplc.com (http://www.aterianplc.com) or contact:

 

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com
(mailto:charles.bray@aterianplc.com)

Simon Rollason, CEO & Director - simon.rollason@aterianplc.com
(mailto:simon.rollason@aterianplc.com)

 

Financial Adviser and Joint Broker:

AlbR Capital Limited

David Coffman / Dan Harris

Tel: +44 (0)207 7469 0930

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Devik Mehta

Tel: +44 20 3470 0470

 

Financial PR:

Bald Voodoo - ben@baldvoodoo.com (mailto:ben@baldvoodoo.com)

Ben Kilbey

Tel: +44 (0)7811 209 344

 

Subscribe to our news alert service: https://atn-l.investorhub.com/auth/signup
(https://atn-l.investorhub.com/auth/signup)

Notes to Editors:

About Aterian plc

www.aterianplc.com (http://www.aterianplc.com)

 

Aterian plc is an LSE-listed exploration and development company with a
diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal
resources to strengthen its existing asset base while supporting ethical and
sustainable supply chains as the world transitions to a sustainable, renewable
future. The supply of these metals is vital for developing the renewable
energy, automotive, and electronic manufacturing sectors, which are
increasingly important in reducing carbon emissions and meeting global climate
ambitions.

 

Aterian has a portfolio of multiple copper-silver (+gold) and base-metal
projects in Morocco. Aterian holds a 90% interest in Atlantis Metals, a
private Botswana-registered company holding eleven mineral prospecting
licences for copper-silver in the world-renowned Kalahari Copperbelt and three
for lithium and salt brine exploration in the Makgadikgadi Pans region. The
Company also holds an exploration licence in southern Rwanda, where it is
evaluating the tantalum and niobium opportunity, in addition to further
exploring for pegmatite-hosted lithium.

 

The Company's strategy is to seek new exploration and production opportunities
across the African continent and to develop new sources of critical mineral
assets for exploration, development, and trading.

 

 1  SP Angel Morning View reported China Tantalum Concentrate pricing from 31
December 2025 to 12 March 2026

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