Argonaut acted as Lead Manager to successfully raise $58.2 million for Tigers Realm Coal Limited (ASX: TIG) (“Tigers Realm” or the “Company”) at an issue price of $0.01 per share by way of a Simultaneous Accelerated Renounceable Entitlement Offer (“SAREO”). The SAREO was underpinned by strong support for existing shareholders and sophisticated investors.
Funds from the SAREO will be applied towards repaying existing shareholder debt, mine and port capex, license compliance drilling and general working capital.
Argonaut is delighted to continue to provide support to Tigers Realm and looks forward to Tigers Realm’s ongoing success.
Additional information regarding Tigers Realm can be found on the Company’s website at http://www.tigersrealmcoal.com