REG - Aterian PLC - Private Placement and Issue of EBT Shares

AterianAnnouncement

10/02/2025 13:15

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RNS Number : 5563W  Aterian PLC  10 February 2025

10 February 2025

 

Aterian Plc

("Aterian" or the "Company")

 

Private Placement of Equity and Warrants

Issue of EBT Shares

 

Aterian Plc (LSE: ATN), the critical metal-focused exploration and development
company, announces that it has completed a small private placement (the
"Placing") of 200,000 new ordinary shares of 10p each ("Ordinary Shares") at a
price of 70 pence per share ("Placing Price"), a 29.9% premium to the closing
price on 7 February 2025, raising gross proceeds of £140,000 ("Placing
Shares"). Additionally, the Company has issued 361,000 new shares to the
Company's Employee Benefit Trust ("EBT") for use as incentive and compensation
for its senior executives and directors ("EBT Shares").

 

As part of the Placing, the investors will also receive 50% warrant coverage,
with each warrant exercisable at a strike price of 70 pence per ordinary
share. The warrants will have a maturity date of 30 December 2027 (the
"Warrants"). The Placing Price and the Warrant issue are consistent with the
convertible bond pricing announced on 30 December 2024 and the commitment to
minimise dilution whenever possible. The net proceeds of the Placing will be
used to strengthen the working capital position.

 

An application will be made for the 561,000 Placing Shares and EBT Shares
(together the "New Ordinary Shares") to be admitted to the Official List and
to trading on the London Stock Exchange, with admission expected to occur on
or around 14 February 2025. The New Ordinary Shares will rank pari passu with
the existing Ordinary Shares of the Company. Following the issue of the New
Ordinary Shares, the Company's enlarged issued share capital will comprise
12,598,044 Ordinary Shares.

This figure of 12,598,044 represents the total voting rights in the Company
and should be used by shareholders as the denominator for the calculation by
which they can determine if they are required to notify their interest in, or
a change to their interest in the Company under the Financial Conduct
Authority's Disclosure Guidance & Transparency Rules.

Simon Rollason, CEO of Aterian plc, commented:

"We are pleased to have the support of senior management, which is electing to
take an equity incentive as compensation for deferred salaries. The placing
issue price of 70 pence is consistent with our commitment to raise funds at or
above this level until our financial position is strengthened from
revenue-generating activities. We recently announced the restart of trading
and intend for the profits to fund operating overheads ultimately. We look
forward to updating the market on our progress concerning our trading
operations."

 

- 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).

 

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, Director - simon.rollason@aterianplc.com
(mailto:simon.rollason@aterianplc.com)

 

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman

Colin Rowbury

Tel: +44 (0)207 399 9400

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Tel: +44 20 3470 0470

 

Financial PR:

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

Ben Kilbey

Tel: +44 (0)7811 209 344

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 playing an
increasing role in reducing carbon emissions and meeting climate ambitions
globally.

 

The Company recently entered into a joint venture agreement with Rio Tinto
Mining and Exploration Limited for Rio Tinto to earn into the HCK project in
southern Rwanda to explore and develop a lithium-tantalum-niobium-tin mining
operation. The Company also holds an exploration licence in Rwanda. Aterian
has a portfolio of multiple copper-silver (+ gold) and base metal projects in
Morocco. In January 2024, the Company announced the acquisition of a 90%
interest in Atlantis Metals. This private Botswana registered company holds
one mineral prospecting licence for copper-silver in the Kalahari Copperbelt
and three for lithium brine exploration in the Makgadikgadi Pans region.

 

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.

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