Atome placing and subscription raises £1.8 million
Atome release
HIGHLIGHTS
· The Company has today raised £1.8 million before expenses (the "Fundraising") through the issue of 3,600,000 new ordinary shares of 0.2 pence each in the Company at a price of 50 pence per share (the "Shares") through a Company-led subscription of 1,600,000 Shares (the "Subscription" or the "Subscription Shares") and a placing of 2,000,000 additional Shares to investors (the "Placing" or the "Placing Shares") also at 50 pence per share (the "Placing Price")
· As part of the Fundraising, certain directors and senior management in the Company have subscribed for Shares at a total cost of £665,000, demonstrating their ongoing financial support for the Company as shareholders and conviction in the future success of ATOME
· The Shares were issued at a price of 50 pence per share
· SP Angel Corporate Finance LLP ("SP Angel") acted as sole broker on the Placing
· The flagship Phase 1 145MW Villeta Project in Paraguay is legally contracted under a signed Power Purchase Agreement with the FEED study already commissioned and soon to be completed
· All of FEED, EPC, Offtake and Financing are targeted for 2024 with start of full production in 2026 when ATOME will become one of the largest producers of green fertiliser in the world
· The Company now has a global pipeline of green fertiliser projects of some 600MW
The full release is available here.
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