Capital Financing
Paladin Energy launches A$525 million fully underwritten equity raising
Amount raised
A$525 million
Before costs, fully underwritten
Issue price
A$7.80 per new Share
ASX Placement and SPP; TSX Bought Deal C$7.62
Securities issued
Approximately 60.7 million Shares
ASX Placement; TSX Bought Deal 6,561,679 Shares
Settlement or listing date
18 November 2026
Settlement of new Shares under ASX Placement and TSX Bought Deal
Summary
Paladin Energy Ltd announced on 12 November 2026 that it has launched a fully underwritten equity raising to raise a total amount of A$525 million (before costs). The company states the raising comprises an A$474 million ASX institutional placement and a Canadian “bought deal” private placement to raise C$50 million (~A$51 million). ASX Placement and SPP shares are priced at A$7.80 per new Share, and TSX Bought Deal shares at C$7.62 per new Share. Paladin also intends to invite Eligible Shareholders in Australia and New Zealand to participate in a non-underwritten Share Purchase Plan to raise up to a further A$50 million (before costs). The company states net proceeds will fund the Patterson Lake South Project, potential Triple R mine life extension and resource growth, Athabasca Basin region exploration and balance sheet flexibility.
Offer terms
| Term | Detail |
|---|---|
| Instrument | New fully paid ordinary shares in Paladin, ranking pari passu with existing fully paid ordinary shares |
| Tranches | ASX Placement to raise A$474 million (before costs); TSX Bought Deal private placement to raise C$50 million (~A$51 million) under the Listed Issuer Financing Exemption; non-underwritten SPP to raise up to a further A$50 million (before costs) |
| Price | A$7.80 per new Share for the ASX Placement and SPP; C$7.62 per new Share for the TSX Bought Deal, which the company describes as the approximate C$ equivalent of the Offer Price based on current exchange rates |
| Discount | The company states the Offer Price of A$7.80 per Share represents a 10.3% discount to the last close of A$8.70 on the ASX on 11 November 2026 |
| Shareholder approval | Not required for the ASX Placement or the TSX Bought Deal, which are issued under the company’s placement capacity under ASX Listing Rule 7.1 |
| Share purchase plan | Eligible Shareholders with a registered address in Australia or New Zealand and outside the United States, holding Shares at 7.00pm (Sydney time) on 11 November 2026, may apply for up to A$30,000 worth of new Shares at A$7.80 without brokerage or transaction costs; targeted to raise up to A$50 million (before costs); Paladin may scale back applications, raise a higher amount or close the SPP early |
| Underwriting | ASX Placement and TSX Bought Deal are fully underwritten; Macquarie Capital (Australia) Limited, Canaccord Genuity (Australia) Limited and RBC Capital Markets are Joint Underwriters to the ASX Placement; RBC Capital Markets and National Bank of Canada Capital Markets are Co-Lead Underwriters to the TSX Bought Deal; the SPP is not underwritten |
Use of proceeds
- The PLS Project’s planning and execution of the CY2027 and CY2028 capital works program and early mobilisation, procurement and site readiness activities, helping protect the critical path and maintain momentum ahead of the principal construction program
- Potential Triple R mine life extension and resource growth
- Acceleration of Athabasca Basin region exploration and growth including follow-up drilling at Atlas and Saloon East and testing of high-priority regional targets across Paladin’s broader Athabasca Basin region tenure package
- Balance sheet flexibility by establishing a clear platform through the repayment of existing debt to support the advancement of a funding solution for the PLS Project
Timetable
| 11 November 2026, 7:00pm | Record date for eligibility to participate in SPP |
|---|---|
| 12 November 2026 | ASX and TSX trading halt |
| 12 November 2026 | Launch of Offer, ASX release of Investor Presentation, dissemination and filing of News Release, filing of Canadian Offering Document on SEDAR+ and Company website |
| 13 November 2026 | Announcement of completion of ASX Placement and TSX Bought Deal |
| 13 November 2026 | ASX and TSX trading halt lifted |
| 18 November 2026 | Settlement of new Shares under ASX Placement and TSX Bought Deal |
| 19 November 2026 | Allotment of new Shares under ASX Placement |
| 23 November 2026 | Despatch SPP offer documents and SPP offer opens |
| 7 December 2026 | SPP closing date |
| 14 December 2026 | Announcement of SPP participation and results, and allotment of new Shares |
The company states the timetable is indicative only and subject to variation.
Source: Paladin Energy announcement dated 12 November 2026. This page summarises information from the company's public announcement and is provided for general information only. It is not financial product advice, a recommendation or an offer, and it does not take into account any person's objectives, financial situation or needs. Figures and terms are taken from the announcement and may be incomplete or may have changed since publication. Refer to the original announcement for full details. Kamoa Capital has not independently verified the information.
