Boosting Finances: Cobalt Blue Completes Entitlement Issue and Secures Strong Financial Future!

Cobalt Blue Holdings Ltd Bolsters Finances

Cobalt Blue Holdings Ltd has bolstered its finances by A$519,647 ahead of a key year in its critical minerals strategy after closing a pro-rata non-renounceable offer to eligible shareholders. The offer was made on the basis of one new share for every five shares held by eligible shareholders on November 21, 2024, at an issue price of A$0.072 per share. This represented a 10% discount to the closing price of A$0.08 on November 15, 2024, and between 20-23% to the 10 and 15-day VWAP, respectively as of that date.

When the offer closed on January 17, 2025, Cobalt Blue had received applications for 7,217,314 new shares, including those received under a top-up facility. The expected date to issue new shares under the entitlement issue is January 23, 2025, and the expected date of the start of trading of these shares is January 24, 2025.

Intended Use of Funds

The company intends to use the funds together with existing cash resources to fund the following:

• Cobalt Blue progresses refinery and feedstock plans, including black mass MOU
• Cobalt Blue creating circular battery economy facilitated by ReMine+

The company reserves the right to place the shortfall shares from the entitlement issue at its discretion within three months of the closing date. COB shares have been as much as 6.25% higher in ASX trading today to A$0.068.

Netflix Inc. Sees Strong Financial Growth

Netflix Inc (NASDAQ:NFLX, ETR:NFC) shares soared after the streaming service’s strong content slate saw it add a record 18.9 million subscribers during the fourth quarter ending the year with 302 million subscribers. Analysts had expected Netflix to add about 9 million subscribers, below the 13.1 million it added in the year-ago quarter. For Q4, Netflix reported earnings per share of $4.27 which topped estimates of $4.19. Revenue of $10.25 billion marked a 16% year-over-year increase and beat the consensus of $10.12 billion.

Netflix said in a letter to shareholders that its Q4 slate outperformed even its high expectations. “Squid Game season 2 is on track to become one of our most watched original series seasons, Carry-On joined our all-time Top 10 films list, the Jake Paul vs. Mike Tyson fight became the most-streamed sporting event ever and on Christmas Day we delivered the two most-streamed NFL games in history,” the company said.

For the first quarter, Netflix projected revenue growth of 11.2% to $10.42 billion and earnings per share of $5.58, missing Wall Street estimates of $10.5 billion and $5.96, respectively. For the full year, Netflix boosted its full-year revenue outlook to now expect revenue in the range of $43.5 billion to $44.5 billion, up from its earlier forecast of $43 billion to $44 billion.

Additionally, Netflix announced a $15 billion stock buyback and announced it will be raising its prices starting on Tuesday with most plans in the US, Canada, Portugal and Argentina. Details about the price increases were not immediately available. Shares of Netflix surged 12.5% to $978 post-earnings.

Effect on Individuals

The completion of the entitlement issue by Cobalt Blue Holdings Ltd signifies a positive financial outlook for the company. This might result in enhanced value for shareholders who participated in the offer as Cobalt Blue secures its financial future. On the other side, as a Netflix subscriber, you might experience increased prices following the company’s announcement of raising its prices in certain regions.

Effect on the World

Cobalt Blue’s successful completion of the entitlement issue enhances the stability of the critical minerals market, contributing to a more reliable supply chain for industries that rely on these minerals. Additionally, Netflix’s strong financial performance reflects the growing popularity of streaming services worldwide, influencing the entertainment industry’s future direction and competition.

Conclusion

In conclusion, the financial moves made by Cobalt Blue Holdings Ltd and Netflix Inc both indicate significant developments in their respective industries. While Cobalt Blue secures a strong financial backing for its mineral strategy, Netflix’s substantial subscriber growth and revenue projections highlight the ongoing transformation in the streaming landscape. These events reflect the dynamic nature of financial markets and the continuous evolution of industries in today’s global economy.