CHN) share price flat on upsizing

The Chalice Mining Ltd (ASX: CHN) share price has taken a slight knock and enters the red today. Shares are trading sideways after the company announced the upsizing of its share purchase plan, as a result of it being heavily oversubscribed.

Details of the upsizing

Chalice cited strong support from eligible shareholders in the share purchase plan (SPP). This has led to a substantially oversubscribed SPP. Reportedly, more than 2,300 applications were received to take part. The resulting value totals $47 million worth of shares at the issuant price of $3.75.

This comes after Chalice recently successfully completed the institutional portion of the placement on 8 December, raising $100 million.

The board of directors, under their…