ASX Capital Raise Roundup is a fortnightly look at ASX capital raisings.

This was an extremely active week with capital raises and the big question is, “Why?”

We suspect it has something to do with companies issuing their respective quarterly activity reports.

These documents give investors insights into companies’ business dealings over the past 90 days and, importantly, their respective cash positions. With full disclosures now in the public domain, they are free to issue more shares.

An example is this week’s Sensera Ltd (ASX:SE1) capital raise at $0.03 per share.

Strong performer Alligator Energy Limited (ASX:AGE) issued $10m at $0.027 per share with the funds being applied to its flagship Samphire Uranium Project and other endeavours.

These companies have upcoming significant activities and are securing the necessary capital.

We are also noticing a firming trend in the medical sectors with the US biotechnology index hitting fresh highs and companies such as Anteris Technologies LTD (ASX:AVR) offering well-received capital raises.

On the Initial Public Offering side, market weakness continues and only companies with a clear path towards profitability and milestones such as Aquirian Limited (ASX:AQN) are trading at premiums. Of particular note, US darling Robinhood (NASDAQ:HOOD) is already trading at ~$32.00, down from its IPO price of $38.
 

Placements this week

Company Name ASX Code Market Cap Issue Price Free attaching options Price Midday Friday % Change from issue price to current price Stock halted? Sector Industry
Dubber Corporation Limited DUB $773.709M $ 2.950 $ 3.090 4.75% Technology Services Packaged Software
METAL TIGER PLC (XASX:MTR) MTR $70.731M $ 0.370 $ 0.460 24.32% Non-Energy Minerals Other Metals/Minerals
CAENEUS MINERALS LTD (XASX:CAD) CAD $39.87M $ 0.007 1:1 free attaching listed option exercise price 1.5c expires DEC 2023 $ 0.011 57.14% Non-Energy Minerals Other Metals/Minerals
THETA GOLD MINES LIMITED (XASX:TGM) TGM $110.71M - $ 0.220 - Suspended from trading Non-Energy Minerals Precious Metals
SIMBLE SOLUTIONS LIMITED (XASX:SIS) SIS $7.929M $ 0.025 1:2 free attaching option (subject to shareholder approval) exercisable 4c, 3 year term $ 0.032 28.00% Technology Services Packaged Software
Aroa Biosurgery Limited ARX $356.775M $ 1.650 $ 1.140 -30.91% Health Technology Medical Specialties
IMUGENE LIMITED (XASX:IMU) IMU $1.651B $ 0.300 $ 0.302 0.67% Health Technology Biotechnology
AUSTRALIAN MINES LIMITED (XASX:AUZ) AUZ $87.152M $ 0.019 $ 0.0215 13.16% Non-Energy Minerals Other Metals/Minerals
VICTORY MINES LIMITED (XASX:VIC) VIC $13.921M $ 0.0025 1:4 free attaching unlisted option, exercisable 0.3c, 3 year term. $ 0.003 20.00% Non-Energy Minerals Other Metals/Minerals
JATCORP LIMITED (XASX:JAT) JAT $38.225M $ 0.019 1:2 free attaching option, exercise price 5c, two year term $ 0.021 10.53% Process Industries Chemicals: Specialty
RHYTHM BIOSCIENCES LIMITED (XASX:RHY) RHY $196.106M $ 0.850 1:2 free attaching option, exercisable at $1.20 and $1.80 $ 0.940 10.59% Commercial Services Miscellaneous Commercial Services
Melbana Energy Limited (XASX:MAY) MAY $55.604M $ 0.020 1:2 free attaching listed option, exercisable 3.5c, 12 month expiry. $ 0.021 5.00% Energy Minerals Oil & Gas Production
ZENITH MINERALS LIMITED (XASX:ZNC) ZNC $73.59M $ 0.215 $ 0.220 2.33% Non-Energy Minerals Other Metals/Minerals
ALLEGIANCE COAL LIMITED (XASX:AHQ) AHQ $204.494M $ 0.670 $ 0.695 3.73% Energy Minerals Coal
ALLIGATOR ENERGY LTD (XASX:AGE) AGE $85.969M $ 0.027 $ 0.036 33.33% Still in Halt Non-Energy Minerals Other Metals/Minerals
CIPHERPOINT LIMITED (XASX:CPT) CPT $8.126M $ 0.029 $ 0.035 20.69% Still in Halt Non-Energy Minerals Other Metals/Minerals
PEARL GLOBAL LIMITED (XASX:PG1) PG1 $17.484M $ 0.035 $ 0.047 34.29% Still in Halt Distribution Services Wholesale Distributors
ANTERIS TECHNOLOGIES LTD (XASX:AVR) AVR $59.576M $ 8.000 3:5 Free attaching options at $10 with 4 year expiry $ 8.590 7.38% Still in Halt Commercial Services Miscellaneous Commercial Services
POSEIDON NICKEL LIMITED (XASX:POS) POS $379.271M $ 0.110 $ 0.135 22.73% Still in Halt Non-Energy Minerals Other Metals/Minerals
LINIUS TECHNOLOGIES LIMITED (XASX:LNU) LNU $31.766M - $ 0.021 - Still in Halt Non-Energy Minerals Precious Metals
SENSERA LIMITED (XASX:SE1) SE1 $15.321M $ 0.034 $ 0.045 32.35% Still in Halt Electronic Technology Semiconductors
ALDERAN RESOURCES LIMITED (XASX:AL8) AL8 $14.003M - $ 0.047 - Still in Halt Non-Energy Minerals Other Metals/Minerals
POINTSBET HOLDINGS LIMITED (XASX:PBH) PBH $2.349B $ 10.000 $ 11.290 12.90% Still in Halt Technology Services Internet Software/Services
CANYON RESOURCES LIMITED (XASX:CAY) CAY $58.023M - $ 0.093 - Still in Halt Non-Energy Minerals Precious Metals
WEST WITS MINING LIMITED (XASX:WWI) WWI $96.716M $ 0.060 1:2 unlisted option, exercise price 12c, expiry Jan 2022 $ 0.069 15.00% Still in Halt Non-Energy Minerals Precious Metals
FRONTIER RESOURCES LIMITED (XASX:FNT) FNT $7.826M - $ 0.016 - Still in Halt Non-Energy Minerals Other Metals/Minerals
IPB PETROLEUM LIMITED (XASX:IPB) IPB $6.024M - $ 0.021 - Still in Halt Energy Minerals Oil & Gas Production
FIJI KAVA LIMITED (XASX:FIJ) FIJ $14.945M $0.10 $ 0.120 20.00% Still in Halt Health Technology Pharmaceuticals: Major

Imugene Limited (ASX:IMU) has raised $90m to new and existing institutional and sophisticated investors at 30c per share. The placement received cornerstone interest from specialist biotech institutional investors.

The company is looking to raise a further $5m through a Share Purchase Plan at the same price as the placement.

Investors will receive one free attaching option for every two shares subscribed for in the offer with an exercisable price of 45c. The capital raised will be used to fund Imugene’s clinical trial pipeline through to the end of 2025.

Australian Mines Limited (ASX:AUZ) has raised $6.5m at 1.9c per share. Strong support for the placement was received from institutional investors both domestically and internationally.

Canaccord Genuity acted as lead manager and bookrunner to the placement.

Australian Mines managing director, Benjamin Bell, commented: “I am pleased with the strong support from both offshore and domestic investors for the Placement.

“This is an indication of the strengthening battery materials market and Australian Mines’ future role as a large-scale, long life battery materials producer.

“We will now be producing P-CAM samples in addition to continuing to produce nickel and cobalt sulphate samples, which will help secure offtake agreements with various international battery and motor vehicle manufacturers”.

JatCorp Limited (ASX:JAT) has raised $3m through a successful placement managed by Everblu Capital.

The placement was completed at 1.9c per share, with investors receiving a free 1-for-2 option with a strike price of 5c, and a two-year expiry date.

Funds will be used for machinery for its ANMA manufacturing facility, investments in production of goods for sale, and working capital.

JatCorp is a leading producer of supplementary food products and plant-based meat. JatCorp has a track record of successful product development and distinguished technology.

Melbana Energy Limited (ASX:MAY) has secured underwriting for a pro rate non-renounceable entitlement offer of two fully paid shares for every 13 shares held at the record date.

Investors will also receive a free 1-for-2 option, exercisable at 3.5c with a one-year expiry date. 180 Markets was pleased to assist Canaccord Genuity with the underwriting of this offer and received strong demand.

Shaun Factor, co-founder of 180 Markets said: “It is great to see companies like this offering their shareholders to fund the future prospects of the company.

The sub-underwriting was a very popular method for new investors as they will receive 1 sub-underwriter commitment option for every 1 share sub-underwritten which are the same terms as the attaching options in the rights issue.”

The offer price of the raise was at discount of 16% to the previous trading price.

Alligator Energy (ASX:AGE) is currently in a trading halt for a $10m capital raise at 2.7c per share. The raise was done at a massive 25% discount to the last price of 3.6c per share.

180 Markets has huge interest for this deal which was done at almost 4X the price of the last raise for which 180 Markets was the lead manager.

AGE is a uranium-focused project development and exploration company, targeting multi-jurisdictional resource and exploration projects with clear pathways for approval and development. The funds for this raise will be used on its Samphire and ARUP Programs as well as general working capital.

Pointsbet Holdings Limited (ASX:PBH) is currently in a trading halt for a placement and a 1-for-9 entitlement offer to raise a total of $400m.

The placement will be priced at $10 per share while the entitlement offer will be at a lower price of $8 per share.

Funds raised under this offer will be used for North American marketing and client acquisition, technology and product development, US market access and government licensing fees, continued investment in talent and scale of operation as well as balance sheet flexibility.
 

Thinking about taking the IPO leap?

Hit the bourse this week

Company Name ASX Code Listing Date Issue Price Price as of Midday Friday Change from issue price to current price
Best & Less Group Holdings Ltd BST 26/7/21 $ 2.16 $ 2.670 24%
Aquirian Limited AQN 27/7/21 $ 0.20 $ 0.225 13%
East 33 Limited ETT 29/7/21 $ 0.20 $ 0.260 30%
M3 Mining Limited M3M 29/7/21 $ 0.20 $ 0.200 0%

In what has been a very successful week for IPOs, we have seen mostly all of the new companies trade at strong premiums.

Best & Less Group Holdings LTD (ASX:BST) is currently trading 24% higher than its IPO price, Aquirian limited (ASX:AQN) is trading 13% higher than its IPO price and East 33 Limited (ASX:ETT) is trading up 30%.

After a few weeks of negative returns for investors, it is great to see that these new companies are attracting strong interest after listing.

180 Markets Analyst, Ariella Grunfeld said: “After disappointing listings overseas, including Robinhood (NASDAQ:HOOD), it is exciting to see Australia receiving gold metals, not only in the pool but on the market too. Australia should add this to our Olympic tally.”

Expected to hit the bourse next week

Company Name ASX Code Listing Date Issue Price Company Name
Pantera Minerals Limited PFE 5/8/21 $ 0.200 Pantera Minerals Limited

 

180 Markets’ recent performers

Company Name ASX Code Market Cap Issue Price Price Midday Friday % Change from issue price to current price
BRYAH RESOURCES LIMITED (XASX:BYH) BYH $11.616M $ 0.075 $ 0.057 -24.00%
VOLT RESOURCES LIMITED (XASX:VRC) VRC $83.311M $ 0.015 $ 0.029 93.33%
PEPINNINI MINERALS LIMITED (XASX:PNN) PNN $15.466M $ 0.230 $ 0.295 28.26%
MOUNT BURGESS MINING N.L. (XASX:MTB) MTB $5.314M $ 0.008 $ 0.006 -25.00%
ALLIGATOR ENERGY LTD (XASX:AGE) AGE $83.581M $ 0.007 $ 0.036 414.29%
PNX METALS LIMITED (XASX:PNX) PNX $32.87M $ 0.006 $ 0.008 33.33%
REDSTONE RESOURCES LIMITED (XASX:RDS) RDS $9.347M $ 0.012 $ 0.011 -8.33%
KORE POTASH PLC (XLON:KP2) KP2 $50.088M $ 0.020 $ 0.015 -25.00%
ECLIPSE METALS LIMITED (XASX:EPM) EPM $44.021M $ 0.015 $ 0.022 46.67%

180 Markets was established by investors for investors, and has become Australia’s leading deal sharing platform, with a difference. In just 12 months, 180 Markets has established a 1800+ strong investor base that has enjoyed access over 650 placements on the ASX, including more than 30 placements where 180 Markets has been lead manager.

If you are interested in Placements, IPOs and RTOs sign up at www.180markets.com.au.

This article was developed by 180 Markets, a Stockhead advertiser at the time of publishing.

 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.