A Locke Lord team assisted by Nick Jennings (London) represented Adriatic Metals Plc, a U.K.-based precious and base metals explorer and developer, in its equity fundraising of $102 million. Adriatic raised gross proceeds of approximately $52 million through a placing with institutional investors and $50 million from a conditional equity subscription by Orion Resource Partners LLP, a global alternative investment management firm. In addition to the placing, Sandfire Resources Limited sold its entire holding in the company in a secondary sale. Canaccord Genuity Limited, RBC Europe Limited and Stifel Nicolaus Europe Limited acted as joint bookrunners in the placing. Additional team members included Charlotte Whitley-Roberts (London) and Rob Evans (New York).
Posted October 15, 2021