Ionic Rare Earths Ltd (ASX:IXR, OTC:IXRRF) has opened its pro-rata renounceable entitlement offer, giving eligible shareholders the chance to participate in its recently announced capital raising.
The offer, detailed in a prospectus lodged on September 12, allows shareholders registered on September 19 to subscribe for one new share at 1.6 cents for every 15 shares held. Each new share will also come with a free-attaching option, exercisable at 2.5 cents before September 30, 2028.
The entitlement offer closes at 5:00 pm AEST on Thursday, October 9, 2025. Eligible shareholders in Australia and New Zealand can apply via Computershare’s online system using their Securityholder Reference Number (SRN) or Holder Identification Number (HIN).
Part of broader $7 million raising
The offer forms a key part of Ionic’s broader A$7 million capital raising program, announced earlier this month. That initiative also included a $2 million placement to institutional investors, which priced new shares at the same 1.6-cent issue price.
Read more: Ionic Rare Earths launches $7 million capital raising
The company’s renounceable rights began trading under the ticker IXRR on September 19, with investors able to buy or sell entitlements on the ASX ahead of the offer closing.
Funds raised will help advance Ionic’s integrated strategy spanning mining, refining, and recycling of rare earth elements — a supply chain critical for electric vehicles, offshore wind, communications, and defence applications.
Circular rare earths strategy
Ionic’s portfolio includes the Makuutu Rare Earths Project in Uganda, which is on track to become a long-life, scalable supplier of magnet and heavy rare earths. The company also owns Ionic Technologies in the UK, which has developed proprietary technology to recover and separate rare earths from both ore concentrates and recycled permanent magnets.
Read more: Ionic Rare Earths ramps up production of heavy rare earths to meet surging demand
Last year, Ionic signed a 50/50 joint venture with Viridis Mining and Minerals Ltd (ASX:VMM) to establish a refinery and magnet recycling facility in Brazil, designed to process rare earths from Viridis’ Colossus Project.
Read more: Ionic Rare Earths JV secures key land for South America-first rare earth refining, recycling hub
Together, these assets underpin a strategy aimed at creating a circular economy for magnet rare earths, while providing traceable supply to industries pursuing net-zero carbon targets.
Shareholders who take up their full entitlement will also have the opportunity to apply for additional shares under a shortfall offer.