Critical Metals slips on $60 mln PIPE financing

Critical Metals

21/04/2026 14:20

** Rare earth miner Critical Metals' CRML.O shares down 4.1% premarket to $11.45 after co announces $60 mln equity raise in private placement

** CRML says to sell ~6 mln shares at $10 to PIPE (private investment in public equity) investors

** Offering price represents 16.2% discount to stock's last sale of $11.94 on Mon

** Co intends to use the net offering proceeds for working capital, including continued development of the Tanbreez Project

** Clear Street sole placement agent

** CRML's stock surged >35% to close at $12.56 on Fri after the Government of Greenland approved the transfer of mining license for Tanbreez Mining. In 2025, CRML increased its stake in the rare earths developer

** With ~122.1 mln shares outstanding, CRML has ~$1.5 bln market cap

** At Mon close, shares up 72% YTD. They closed at $2.29 a year ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))