IperionX completes A$50 million placement to boost U.S. titanium manufacturing capacity

IperionX Limited (ASX: $IPX) has successfully completed a placement of 26.2 million new fully paid ordinary shares at an issue price of A$1.91 per share, raising gross proceeds of A$50.0 million. The funds will be utilized to scale titanium manufacturing capacity at IperionX's operations in Virginia, including enhancing the Titanium Production Facility to increase production capacity to approximately 2,000 metric tons per annum.

Executive Chairman and Director's Participation in the Placement

Executive Chairman of IperionX, Mr. Todd Hannigan, has subscribed for 3.2 million new shares, raising A$6.1 million under the Placement. Additionally, Non-Executive Director, Ms. Lorraine Martin, has subscribed for 0.2 million new shares, raising A$0.3 million, subject to shareholder approval.

Summary of IperionX's A$50 million placement and future plans

IperionX has successfully raised A$50.0 million through a placement to enhance its titanium manufacturing capacity in Virginia. The company aims to increase titanium production capacity to approximately 2,000 metric tons per annum at the Titanium Production Facility. The funds will also be allocated for general working capital and corporate purposes. The participation of the Executive Chairman and Non-Executive Director in the placement demonstrates confidence in the company's strategic initiatives. IperionX's focus on scaling titanium manufacturing capacity aligns with its goal to become a leading American titanium metal and critical materials company, catering to advanced U.S. industries such as space, aerospace, defense, consumer electronics, hydrogen, electric vehicles, and additive manufacturing.