The Honeymoon uranium project. Source: Boss Energy
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  • Boss Energy (BOE) raises $120 million for its Honeymoon uranium project in South Australia, as company directors sell-down about $5 million in shares
  • The funds were raised in a two-tranche placement, which saw 56 million new shares issued at $2.15 each
  • Company directors completed a bookbuild selldown at the same time as the placement, resulting in 2.4 million shares being sold at the offer price
  • In addition to the placement, Boss is seeking to raise $5 million through a share purchase plan (SPP), offered at the same terms as the placement
  • Shares are trading 7.02 per cent lower today at $2.25 each

Boss Energy (BOE) has raised $120 million for its Honeymoon uranium project in South Australia, as company directors sell-down about $5 million in shares.

The funds were raised in a two-tranche placement, which saw 56 million new shares issued at $2.15 each.

Company directors completed a bookbuild selldown at the same time as the placement, resulting in 2.4 million shares being sold at the offer price. 

The funds will take the company’s cash and strategic uranium inventory to over $200 million and will fund the development of the Honeymoon project.

“The overwhelming demand for the placement reflects the competitive strengths of Honeymoon and its status as Australia’s next uranium producer,” Managing Director Duncan Craib said.

“The combination of the strong outlook for the uranium market and Honeymoon’s short lead time to production means Boss is ideally positioned to capitalise on its huge opportunity.”

In addition to the placement, Boss is seeking to raise $5 million through a share purchase plan (SPP), offered at the same terms as the placement.

Eligible shareholders will have the opportunity to apply for up to $20,000 in new shares.

Shares were trading 7.02 per cent lower today at $2.25 each at 11:00 am AEDT.

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