Liontown Resources Limited (LTR) – $316m Institutional Placement

Argonaut is pleased to have acted as Joint Lead Manager, Joint Bookrunner, and several Underwriter to the A$316 million institutional placement.

The bookbuild comprised a fully underwritten placement of A$266 million to National Reconstruction Fund Corporation alongside domestic and offshore institutional investors, and a non-underwritten conditional placement of A$50 million to Canmax Technologies Co., Ltd and other institutional investors.

Proceeds will support the ramp-up and transition to 100% underground operations at Kathleen Valley and positions the Company to capitalise on a recovery in lithium prices and growth opportunities.

Congratulations to Liontown’s Managing Director, Tony Ottaviano, Chairman, Tim Goyder, and the broader Liontown team on this milestone transaction. Argonaut’s Corporate Finance team was led by Eddie Rigg, Rob Telford, Max Carter-Mazak and Michael Paganin. ECM syndication was led by Digby Gilmour and Chris Wippl.