Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) has confirmed that the rights under its Renounceable Rights Issue, announced on September 12, 2025, will start trading today on the Australian Securities Exchange under the code IXRR.
The offer is renounceable, allowing eligible shareholders to renounce (sell) some or all of their rights and trade them on ASX if they choose not to take up their entitlement. Trading of rights will run from September 18, 2025, until October 2, 2025, though there is no guarantee an active market will develop.
The offer is open to all eligible shareholders who were on the register at 7:00 pm (Melbourne time) on September 19, 2025 and whose registered address is in Australia or New Zealand.
Under the terms of the offer:
- Eligible shareholders are entitled to one new share for every 15 shares held at the Record Date, at an issue price of 1.6 cents per share.
- Shareholders will also receive one new option for every new share subscribed for, exercisable at 2.5 cents before September 30, 2028, at no additional cost.
Offer documents will be dispatched to eligible shareholders on September 24, 2025.
A$7 million capital raising to advance projects
Last week, IXR announced it was raising A$7 million through a renounceable rights issue and a placement to fund the Belfast magnet recycling project, its Viridion joint venture in Brazil, and an expansion of operations in the United States.
The rights issue price of 1.6 cents per share represents a 6% discount to both the last closing price and the 30-day volume-weighted average price (VWAP). Eligible shareholders will also receive one option for every new share subscribed, exercisable at 2.5 cents and expiring on September 30, 2028.
In addition, the company has secured A$1.125 million in placement commitments from institutional investors and executives on the same terms. Directors and management will contribute about A$635,000, with directors subscribing for around A$135,000 under the rights issue and executives committing A$500,000 under the placement.
Read more: Ionic Rare Earths launches $7 million capital raising