Sirius Minerals Plc’s US$425 Million Equity Fundraising

Ashurst advised J.P. Morgan and Liberum Capital in relation to the US$425 million equity fundraising for FTSE 250 company, Sirius Minerals Plc, assisted by Allen & Overy.

The US$425 million equity fundraising is part of the company’s stage 2 financing package, under which the company intends to raise a total of US$3.8 billion. The company plans to use the cash raised to fund the development of its polyhalite mine in North Yorkshire. Polyhalite is a unique multi-nutrient fertilizer that can be used to achieve balanced fertilization.

Ashurst advised J.P. Morgan (as sole global coordinator and joint bookrunner) and Liberum Capital (as joint bookrunner and sponsor) with a team led by corporate partner Nick Williamson (picture), assisted by US Securities partner Jennifer Schneck, counsels Jeffrey Johnson and Caroline Chambers, senior associate Rodrigo Romero Hidalgo, associate Louise Chan and solicitor Kiara De Silva.

Allen & Overy advised the Sirius Minerals Plc on the deal.

Involved fees earner: Caroline Chambers – Ashurst; Louise Chan – Ashurst; Kiara De Silva – Ashurst; Jeffrey Johnson – Ashurst; Rodrigo Romero – Ashurst; Jennifer Schneck – Ashurst; Nick Williamson – Ashurst;

Law Firms: Ashurst;

Clients: JP Morgan; Liberum Capital;