Paladin Energy Ltd (ASX:PDN) has completed a fully underwritten equity raising totalling A$525 million, comprising an ASX institutional placement of approximately 64.0 million new shares at A$7.80 per share to raise approximately A$499 million, and a Canadian "bought deal" private placement of approximately 3.3 million new shares at C$7.62 per share to raise approximately C$25 million (approximately A$26 million).

Key Points

  • Fully underwritten equity raising of A$525 million (before costs) completed via ASX institutional placement and TSX bought deal
  • ASX Placement priced at A$7.80 per share; TSX Bought Deal priced at C$7.62 per share
  • Settlement of both the ASX Placement and TSX Bought Deal is expected on 18 November 2026
  • Non-underwritten Share Purchase Plan targeting up to A$50 million (before costs) open to Eligible Shareholders in Australia and New Zealand, with applications of up to A$30,000 per shareholder at A$7.80 per share

ASX Placement and TSX Bought Deal Terms

The ASX Placement of approximately 64.0 million new fully paid ordinary shares was priced at A$7.80 per share to raise approximately A$499 million before costs. The TSX Bought Deal involved approximately 3.3 million new shares priced at C$7.62 per share, raising approximately C$25 million (approximately A$26 million) before costs. New shares issued under both components will rank pari passu with existing Paladin shares and will be issued pursuant to the company's available placement capacity under ASX Listing Rule 7.1. Allotment of new shares under the ASX Placement is expected on 19 November 2026.

Joint Lead Managers and Underwriters

Macquarie Capital (Australia) Limited, Canaccord Genuity (Australia) Limited, and RBC Capital Markets acted as Joint Lead Managers, Joint Underwriters, and Joint Bookrunners to the ASX Placement. RBC Capital Markets and National Bank of Canada Capital Markets acted as Co-Lead Underwriters and Joint Bookrunners to the TSX Bought Deal. The filing states the offer received strong demand from new and existing investors, which resulted in an increase in the ASX Placement component of the offer.

Share Purchase Plan Timetable and Conditions

Eligible Shareholders are those with a registered address in Australia or New Zealand and outside the United States who held Paladin shares as at 7:00pm Sydney time on 11 November 2026. Each Eligible Shareholder may apply for up to A$30,000 worth of new shares at A$7.80 per share with no brokerage or transaction costs. The SPP offer booklet is expected to be released on or around 23 November 2026, with the SPP closing on 7 December 2026. Allotment of SPP shares and results are expected to be announced on 14 December 2026. Paladin reserves the right to scale back applications, raise a higher amount, or close the SPP early.