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Iron ore producer raises capital

Iron ore producer raises capital

Mark Paganin

A national firm has advised on a multi-million-dollar equity raising for Sundance Resources.

Firms: Clayton Utz (Sundance Resources)

Deal: Sundance Resources launched a pro-rata renounceable entitlement offer.

Value: $16.5 million

Area: Banking and finance

Key players: Clayton Utz partner Mark Paganin led the team, with support from senior associate Stephen Neale and lawyer Thomas Parker.

Deal significance: The pro-rata renounceable entitlement offer announced last week aims to raise up to $16.5 million for Sundance Resources. The entitlement is partially underwritten.

Shareholders have the opportunity to purchase one new share for every share held, at an issue price of $0.005 per share, together with one free attaching option for every share subscribed.

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