AustraliaDaily Briefs

Daily Brief Australia: Sayona Mining and more

In today’s briefing:

  • Sayona Mining Placement – Has Remained on Schedule with Increased Coverage

Sayona Mining Placement – Has Remained on Schedule with Increased Coverage

By Ethan Aw

  • Sayona Mining (SYA AU) is looking to raise around US$129m in its primary follow-on offering. Proceeds will be used for CAPEX needs and working capital, amongst others. 
  • The deal is a slightly large one to digest at 17.9 days of ADV and 12.1% dilution.
  • In this note, we will talk about the deal dynamics and run the deal through our ECM framework.

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