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Eastern Metals Limited ( (AU:EMS) ) has provided an announcement.
Eastern Metals Limited, to be renamed Raptor Metals Ltd, has completed its public offer, raising the maximum subscription of A$5 million and issuing 250 million new shares with free-attaching options, alongside a suite of additional securities tied to project consideration, placements, conversions and lead manager arrangements. The company has also finalised the acquisition of approximately 94.7% of Raptor Resources Limited under its bid implementation agreement and has begun the compulsory acquisition process for the remaining shares, resulting in a significantly expanded capital base of 592.4 million shares, 327.4 million options and 165.8 million performance rights, with a substantial portion of these securities subject to escrow restrictions designed to support an orderly market as the company seeks re-admission to the ASX and advances its enlarged portfolio of resource assets.
The most recent analyst rating on (AU:EMS) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Eastern Metals Limited stock, see the AU:EMS Stock Forecast page.
More about Eastern Metals Limited
Eastern Metals Limited, which is set to be renamed Raptor Metals Ltd, is an Australian Securities Exchange (ASX)-listed resources company. Through its takeover of Raptor Resources Limited, the company is consolidating its interests in mineral projects, positioning itself as a larger exploration and development vehicle in the metals and mining sector.
Technical Sentiment Signal: Sell
For detailed information about EMS stock, go to TipRanks’ Stock Analysis page.