Capital Raises Weekly Wrap - 08/07/2021

Placement Overview

*Placements are limited to those that went into a trading halt between 05/07 and 08/07.

Thorney Technologies Ltd (ASX: TEK) raised $25.3m via placement to fund investment in technology companies both in Australia and overseas with a focus on pre-IPO opportunities. The two tranche placement was conducted at $0.40 per new share, which represents a 7% discount on the halt price, but a 3% premium on the 90 day VWAP.  Mako Gold Limited (ASX: MKG) raised $10m via placement at $0.08 per new share to fund its existing project, along with accelerate exploration and drilling campaigns at the Company’s flagship Napié Gold Project aiming to extend the consistent high-grade, shallow gold mineralisation identified to date at the Tchaga Prospect Cornerstone. The placement received cornerstone support of $6.3m by North American and European strategic investors including Dundee Goodman Merchant Partners, DELPHI and Sparta AG. Carpentaria Resources Ltd (ASX: CAP) raised $8m via a placement and received commitments to underwrite its $27m entitlement offer. The raise will fully fund its Hawson Iron Projects bank feasibility study including drilling, demonstrations, plant run, engineering, and design. The capital raising was executed at the offer price of $0.15 per share. The offer price represented a 1.3% premium to the 30-day VWAP and 13.5% discount on 20 day VWAP.

Placement Sector Breakdown

For a more detailed look at how the ASX sectors are performing check out: https://www.freshequities.com/ASX/sectors 

90 Days Post Capital Raise Performance

Looking back at how some capital raises have performed 90 days post capital raises, it takes us back to late February where the market was seeing considerably more activity with 15 raises occurring over the week starting on the 22nd.

The top-performing four: - RDS - MPR - NCL - TI1

With the worst-performing being: - IP1 - NVX - BPP

Check out our Past Capital Raises page for more information on past transactions.