7th Jul 2025 12:09
Pantheon Resources PLC - oil and gas company focused on developing the Ahpun and Kodiak onshore oil fields in Alaska - Raises USD16.3 million before expenses through a placing and subscription of new ordinary shares at 21.15 pence each. Proceeds will support drilling of the Dubhe-1 appraisal well, development planning for the Ahpun project, gas monetisation efforts, and preparations for a potential US stock market listing by early 2026.
As part of the raise, Pantheon issues shares to settle final principal payments under its 2021 convertible bond and partially redeem its 2025 bonds, cutting total convertible debt.
Current stock price: 21.85 pence, down 11% in London on Monday afternoon
12-month change: up 5.8%
By Eva Castanedo, Alliance News reporter
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