Jervois Global Limited (AU:JRV) has released an update.
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Jervois Global Limited has entered a significant recapitalization agreement with Millstreet Capital Management to strengthen its financial standing through a U.S. Chapter 11 procedure, leading to privatization. This move will inject $145 million in equity capital, aiding the restart of the São Miguel Paulista nickel cobalt refinery in Brazil, while reducing debt by $170 million through various financial restructurings. The company aims to maintain operational continuity with no expected impact on its commercial activities, although current equity holders are unlikely to receive returns post-recapitalization.
For further insights into AU:JRV stock, check out TipRanks’ Stock Analysis page.
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