Arafura Rare Earths completes second tranche of capital raise

Arafura Rare Earths Limited (ASX: ARU) announced the completion of Tranche 2 of its A$475 million placement on December 12, 2025. This tranche involved the issuance of 1,255,859,790 new fully paid ordinary shares to institutional and sophisticated investors, raising approximately A$351.6 million (before costs) at an issue price of A$0.28 per security. This follows the completion of Tranche 1 on November 4, 2025, which comprised 440,568,781 new fully paid ordinary shares.

In conjunction with the placement, Arafura also undertook a Share Purchase Plan (SPP) targeting an additional A$50 million, offered at the same price of A$0.28 per share. The SPP closed on December 9, 2025, with results to be announced on December 15, 2025. An Appendix 2A notification was released for the Tranche 2 Placement shares, confirming their quotation on the ASX with an issue date of December 12, 2025.

Following the quotation of these shares, Arafura Rare Earths' total number of quoted ordinary fully paid securities on issue now stands at 4,633,553,784. The company also has 42,093,974 performance rights (ARUAD) and 2,766,000 options (ARUAC) unquoted.