Atlas Metals Group plc (LSE:AMG) said it has put in place a £10 million at-the-market equity facility with Axis Capital Markets to strengthen its funding position as it advances the proposed reverse takeover of Universal Pozzolanic Silica Alumina. The facility is intended to provide working capital, settle legacy creditor positions and cover transaction-related costs, with Axis also appointed as joint broker. Atlas has issued an initial 720,820 new shares under the arrangement.
In parallel, the company confirmed that warrant exercises and loan note conversions will result in the issue of a further 4.3 million shares. Once all 5,017,321 new shares are admitted to trading on 5 February, Atlas’s total voting share capital is expected to rise to around 29.1 million shares. While the enlarged share base represents modest dilution for existing shareholders, management said the added flexibility improves the group’s ability to fund the UPSA transaction as it moves forward.
The broader investment outlook for Atlas continues to be shaped by its financial profile, with negligible revenue, ongoing losses, negative equity and continued cash burn weighing on sentiment. Technical indicators offer only limited short-term support and remain weak over longer timeframes, while valuation metrics are constrained by the company’s loss-making status and the absence of dividend yield visibility.
More about Atlas Metals Group plc
Atlas Metals Group plc is a London-listed natural resources and energy company focused on the acquisition and development of mineral assets. Its current strategic priority is the proposed purchase of Universal Pozzolanic Silica Alumina, which would broaden the group’s exposure to industrial minerals.
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