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TerraCom Limited ( (AU:TER) ) has shared an announcement.
TerraCom Limited has launched a partially underwritten 1.25-for-1 renounceable entitlement offer at A$0.06 per new share to raise up to A$60 million, aiming to strengthen its balance sheet amid sustained coal price pressure. The funds will be used to pay down regulatory, statutory and operational creditors, improve liquidity and provide general working capital, including transaction costs, with management highlighting that the move is intended to remove funding uncertainty and allow a continued focus on operational safety and strategic priorities. All eligible shareholders on the record date can participate and may also apply for additional new shares, while several directors have committed to take up all or part of their entitlements, signalling internal support for the recapitalisation and potentially providing comfort to investors about the company’s efforts to stabilise its financial position.
The most recent analyst rating on (AU:TER) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on TerraCom Limited stock, see the AU:TER Stock Forecast page.
More about TerraCom Limited
TerraCom Limited is an ASX-listed resources company headquartered in Brisbane that operates in the coal sector, with its revenues and operations exposed to prevailing coal price conditions. The company’s strategy and capital management are focused on maintaining safe and efficient mining operations while managing debt and creditor obligations in a challenging commodity price environment.
Average Trading Volume: 4,248,406
Technical Sentiment Signal: Sell
Current Market Cap: A$72.89M
See more insights into TER stock on TipRanks’ Stock Analysis page.