The lithium stock has dropped 10.29% to 30.5 cents in morning trade after returning from a trading halt.
According to the release, Wildcat has received firm commitments to raise $60 million through an institutional placement.
The cash is being directed towards Wildcat's Tabba Tabba lithium project in Western Australia.
The first tranche shares are then expected to be allotted and begin trading on Monday 28 September.
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By comparison, the All Ords Index is down just 0.34% on Monday. The cash is being directed towards Wildcat's Tabba Tabba lithium project in Western Australia.
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The article, shortened and in plain language
It hasn't been a great start to the week for Wildcat Resources Ltd shareholders.
The lithium stock has dropped 10.29% to 30.5 cents in morning trade after returning from a trading halt.
By comparison, the All Ords Index is down just 0.34% on Monday.
According to the release, Wildcat has received firm commitments to raise $60 million through an institutional placement.
Around 196.7 million new shares will be issued at 30.5 cents each.
Wildcat now has around 1.41 billion shares on issue, so the placement will increase the share count by about 14%.
The cash is being directed towards Wildcat's Tabba Tabba lithium project in Western Australia.
Wildcat said it's targeting completion of its Definitive Feasibility Study during calendar 2026.
Most placement shares will be issued under Wildcat's existing placement capacity, with settlement of the first tranche expected on Friday 25 September.
The first tranche shares are then expected to be allotted and begin trading on Monday 28 September.
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