Jervois Global Limited (ASX: JRV) announced a comprehensive recapitalisation agreement with Millstreet Capital Management LLC to strengthen its balance sheet and provide US$145 million in equity funding. This strategic initiative supports growth plans, including the restart of the São Miguel Paulista nickel-cobalt refinery in Brazil. To facilitate the recapitalisation, Jervois and certain subsidiaries will initiate a prepackaged U.S. Chapter 11 procedure in January 2025, ensuring seamless operational continuity for vendors, suppliers, customers, and employees.
Additionally, Millstreet intends to implement an inter-conditional Australian deed of company arrangement aligned with the Chapter 11 Plan. As part of the plan, Jervois will transfer its material assets to a Millstreet nominee, pending creditor and ASX approvals. Millstreet, a key stakeholder, currently provides Jervois Finland’s Working Capital Facility and holds the ICO Bonds and convertible notes, underscoring its integral role in this transformational process.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
