12:27 PM EDT, 10/09/2024 (MT Newswires) -- Metals Acquisition ( MTAL ) said Wednesday that it has received firm commitments to raise about $150 million Australian dollars ($103 million) following an oversubscribed placement of about 8.3 million new CHESS Depositary Interests at A$18.00 per New CDI.

The company expects settlement of the new CDIs on Oct. 14 and issuance on Oct. 15. Metals Acquisition ( MTAL ) said proceeds from the placement will be used to optimize its balance sheet and de-lever.

Shares of Metals Acquisition ( MTAL ) were down more than 7% in recent trading.

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