Syrah Resources Limited (ASX: SYR), an Australian Securities Exchange listed industrial minerals and technology company with its flagship Balama Graphite Operation in Mozambique and a downstream Active Anode Material Facility in the United States, has successfully completed the institutional component of its fully underwritten 1 for 1.32 pro rata accelerated non-renounceable entitlement offer. The Institutional Entitlement Offer raised approximately A$44 million (US$30 million) at a fixed price of A$0.105 per New Share.
The offer saw strong support from existing and new institutional shareholders, with approximately 88% of entitlements taken up by existing shareholders. New Shares not taken up by eligible institutional shareholders and ineligible institutional shareholders were fully allocated to new investors and AustralianSuper Pty Ltd as trustee of AustralianSuper. The retail component of the Equity Raising, which is also fully underwritten, is expected to raise approximately A$61 million (US$42 million).
Under the Institutional Entitlement Offer, Syrah will issue approximately 417 million New Shares at the Offer Price. Settlement of these New Shares is scheduled for Thursday, 2 April 2026, with allotment and normal trading expected to occur on Tuesday, 7 April 2026. Syrah anticipates its trading halt will be lifted, and its shares will recommence trading on the ASX from market open today.
Eligible retail shareholders will have the opportunity to apply for 1 New Share for every 1.32 existing Syrah shares they hold. The Retail Entitlement Offer will be open from 10.00am (Melbourne time) on Thursday, 2 April 2026, and close at 5.00pm (Melbourne time) on Friday, 17 April 2026. Further details about the Retail Entitlement Offer will be set out in the retail offer booklet, which Syrah expects to lodge with the ASX and make available to eligible shareholders on Thursday, 2 April 2026.
