Image Resources NL announces $12.5m ATM funding facility

Image Resources NL (ASX: $IMA) has entered into an At-the-Market Subscription Deed (ATM) 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. The company also has the flexibility to raise capital through other means without any restrictions from Acuity Capital and the ATM.

Executive Commentary on the ATM Funding Facility

Image Resources NL is pleased to announce the signing of the At-the-Market Subscription Deed with Acuity Capital, providing the company with access to up to $12,500,000 of standby equity capital. This facility offers us the flexibility to manage our capital structure and funding needs according to our business requirements. The terms of the ATM give us full discretion on its utilization, including setting an issue price floor and the timing of each subscription. We appreciate the support from Acuity Capital and believe that this facility will enhance our financial flexibility and support our corporate strategy.

Summary of Image Resources NL's $12.5m ATM Funding Facility

Image Resources NL (ASX: $IMA) has signed an At-the-Market Subscription Deed with Acuity Capital, providing the company with up to $12,500,000 of standby equity capital until 31 January 2029. The ATM gives Image full discretion on its utilization, including the number of shares to be issued, the minimum issue price, and the timing of each subscription. There are no obligations to use the ATM, and the company can terminate it at any time without cost or penalty. Additionally, Image has the flexibility to raise capital through other means without restrictions from Acuity Capital and the ATM. The Collateral Shares issued as security for the ATM can be bought back and canceled by the company upon early termination or maturity of the ATM, subject to shareholder approval. The company's Managing Director and CEO, Patrick Mutz, expressed appreciation for the support from Acuity Capital and highlighted the enhanced financial flexibility and support for the corporate strategy that this facility provides.