Image Resources NL announces $15m ATM funding facility

Image Resources NL (ASX: $IMA) has entered into an At-the-Market Subscription Deed with Acuity Capital Investment Management Pty Ltd, providing the company with up to $12,500,000 of standby equity capital for the period ended 31 January 2029. The ATM gives Image full discretion on whether to utilize it, the maximum number of shares to be issued, the minimum issue price of shares, and the timing of each subscription. There are no requirements on Image to utilize the ATM, and it may terminate the ATM at any time without cost or penalty. As security for the ATM, the Company has agreed to issue 55,000,000 fully paid ordinary Image shares to Acuity Capital, for nil cash consideration, utilizing its existing Listing Rule 7.1 capacity.

Executive Commentary on the ATM funding facility

The ATM funding facility with Acuity Capital provides Image Resources with additional financial flexibility and the ability to access standby equity capital if needed. This arrangement allows the company to make strategic decisions regarding the issuance of shares and the timing of capital raising activities. The flexibility offered by the ATM aligns with our commitment to prudently manage our capital structure and ensures that we have the necessary resources to support our corporate objectives and growth initiatives.

Summary of Image Resources' $15m ATM funding facility

Image Resources NL (ASX: $IMA) has signed a $15m At-the-Market Subscription Deed with Acuity Capital Investment Management Pty Ltd, providing the company with up to $12,500,000 of standby equity capital for the period ended 31 January 2029. The ATM gives Image full discretion on whether to utilize it, the maximum number of shares to be issued, the minimum issue price of shares, and the timing of each subscription. The company may terminate the ATM at any time without cost or penalty, and there are no restrictions on raising capital through other means. As security for the ATM, Image has agreed to issue 55,000,000 fully paid ordinary shares to Acuity Capital, utilizing its existing Listing Rule 7.1 capacity. The ATM funding facility offers Image Resources additional financial flexibility and supports the company's corporate objectives and growth initiatives.