IperionX shares dip after receiving a reservation for a $230m bond
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The news: Shares in IperionX declined in afternoon trade after the titanium alloy manufacturer announced it had received a reservation for a USD150 million ($230.5 million) tax-exempt private activity bond (PAB) capacity from the government of the US state of Virginia.
The numbers: At 12:30pm AEST, shares in IperionX had slipped 1% to $5.93.
The context: The Commonwealth of Virginia has made the reservation of up to USD150 million in tax-exempt PAB capability through its industrial development bond program.
IperionX will complete due diligence on pricing, tenor and bond terms across the remainder of 2025 to determine if tax-exempt PABs provide the optimal funding route prior to debt issuance.
Reservation of PAB capacity does not obligate IperionX to issue PABs, which is subject to the agreement and execution of binding documentation.
IperionX raised $70 million by issuing new capital in July and has millions of dollars worth of contracts with the US defence department.
The source: ASX
