D3 Energy Limited (ASX: D3E) ('D3 Energy' or the 'Company') is pleased to announce that it has secured firm commitments from new and existing sophisticated and professional investors to raise gross proceeds of $6.12 million through the issue of 17,000,000 new fully paid ordinary shares ('New Shares') at an issue price of $0.36 per New Share ('Placement').
The Placement, which saw substantial excess demand, was strongly supported by new and existing sophisticated and institutional investors, marks the first capital raising undertaken by D3 Energy since listing on the ASX in May 2024, reflecting the Company's disciplined approach to capital management and its focus on advancing its asset base in an efficient and cost-effective manner. The issue price represents an 80% premium to the Company's IPO price of $0.20 per share, reflecting strong investor support for the Company's strategy, asset base and position within the global helium market.
Managing Director and CEO of D3 Energy, David Casey commented: 'This capital raising is a significant milestone for D3 Energy, being the first time we have returned to the market since listing two years ago. The ability to raise capital at a premium to our IPO price reflects the progress we have made, and the confidence investors have in our strategy and assets. We are particularly pleased with the level of support we have received from overseas investors highlighting the global appeal of our portfolio.' 'With helium supply increasingly constrained and disruptions to supply likely to be impacted for the next 3 to 5 years in key producing regions, and demand continuing to grow, this funding allows us to materially accelerate exploration activities across our portfolio and advance our projects during what is a unique and highly attractive point in the helium market cycle.
Further Information
The issue price of $0.36 per New Share represents a 15% discount to the 15-day VWAP of $0.42. The New Shares will be issued under the Company's combined Listing 7.1 and 7.1A capacity. The New Shares issued under the Placement will be fully paid ordinary shares and will rank equally with shares currently on issue and are expected to be issued on or around 31 March 2026. Proceeds from the Placement will be applied towards a drilling program and the ongoing FEED study for helium and natural gas processing facility at D3 Energy's flagship asset in South Africa to accelerate toward project sanction, as well as a seismic acquisition program at the Company's Arckaringa Basin permits in South Australia. The Placement strengthens D3 Energy's balance sheet and provides the financial flexibility to progress its exploration and appraisal strategy at a time when helium is increasingly recognised as a critical and limited resource. GBA Capital Pty Ltd (AFSL 544 680) and Originate Capital Pty Ltd (AFSL 429718) acted as Joint Lead Managers to the Placement. The Joint Lead Managers will receive a management fee of 6% of gross funds raised under the Placement (payable in cash and/or shares) and 1,700,000 options (exercisable at $0.54 within 3 years) on the terms and conditions outlined in Annexure A. The Broker options and shares will be issued under the Company's Listing Rule 7.1 capacity. Ongoing structural pressure on the helium supply chain, including supply disruptions associated with geopolitical instability in the Middle East, combined with rising demand, has underscored the strategic importance of new and reliable helium sources and supply chains. D3 Energy's asset base is well positioned to benefit from these favourable market dynamics as exploration and appraisal activities advance.
Contact:
Sam Macpherson
Tel: +61 2 8072 1400
Email: admin@d3energy.com.au
Web: www.d3energy.com.au
About D3 Energy Limited
D3 Energy (ASX: D3E) is an Australian-listed helium and natural gas exploration company with a primary focus on the development of its flagship asset, ER315, located in South Africa's Free State Province. ER315 contains certified reserves and significant contingent and prospective resources and continues to deliver strong technical results, positioning D3 Energy as a key player in the global energy transition. In addition to its South African operations, D3 Energy recently expanded into Australia through the strategic acquisition of highly prospective helium and hydrogen permits in the Arckaringa Basin, further broadening its international footprint in critical gases while maintaining a clear focus on advancing ER315 toward development.
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