Iperionx (IPX) priced an underwritten public offering of 2.3 million American depositary shares, with each ADS representing 10 of its ordinary shares, at $21.98, for gross proceeds of around $50 million, the company said Tuesday.
The offering is expected to close on Thursday.
Proceeds from the offering will be used to continue the commercialization and scale-up of its titanium and metal alloy production technologies and for general corporate purposes, the company said.
Shares of the company were down 4.3% in Wednesday's premarket trading.
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