Chilwa Minerals (CHWM) priced an underwritten public offering expected to generate US$3.5 million in gross proceeds before discounts and expenses.
The offering includes 625,000 American Depositary Shares (ADSs) and warrants to purchase 625,000 ADSs, priced at US$5.60 per ADS and accompanying warrant. Each ADS represents 10 ordinary shares. The warrants have an exercise price of US$5.60 per ADS. Chilwa expects ADS trading on the Nasdaq Capital Market to begin October 1, 2026, and closing on or about October 2, 2026, New York time. Ordinary shares continue trading on the ASX. The underwriter has a 45-day option to purchase up to 92,000 additional ADSs and/or 92,000 additional warrants. Chilwa intends to use net proceeds for mineral exploration, working capital and general corporate purposes.