Published by Todd Bush on November 8, 2023
CHARLOTTE, N.C.--(BUSINESS WIRE)--IperionX Limited (IperionX) (NASDAQ: IPX, ASX: IPX) is pleased to announce that it has completed a placement to existing institutional investors to raise gross proceeds of approximately US$16.7 million before costs (“Placement”).
The Placement was led by existing shareholders, B Riley Principal Investments, Fidelity International, Inherent Group, and one of the world’s largest asset managers, confirming their support for IperionX’s plans to re-shore U.S. titanium production, scale IperionX’s patented titanium technologies, advance the Titan Critical Mineral Project and for general corporate purposes.
>>Read about IperionX 2023 Sustainability Report
IperionX’s technology and patent portfolio advisor, Mr. Ray Nimrod, participated in the placement, and is a significant long-term shareholder and advisor to the Company. Ray is a renowned expert in technology patent law, representing a range of leading technology clients, including multiple Fortune 100 companies.
IperionX has significantly bolstered its capital position with up to US$40.9 million in new funding, made up of:
This robust financial position provides a strong platform for IperionX to accelerate plans to re-shore U.S. titanium production with the development of the advanced Titanium Production Facility in Halifax County, Virginia.
IperionX aims to become a leading American titanium metal and critical materials company – using patented metal technologies to produce high performance titanium alloys, from titanium minerals or scrap titanium, at lower energy, cost and carbon emissions.
Our Titan critical minerals project is believed to be the largest mineral resource of titanium, rare earth and zircon minerals sands in the United States.
IperionX’s titanium metal and critical minerals are essential for advanced U.S. industries including space, aerospace, defense, consumer electronics, hydrogen, electric vehicles and additive manufacturing.
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