"The complete capital structure solution will see our gross debt reduced significantly and our 2022 refinancing task eliminated, setting Emeco up for future success," Managing Director and CEO Ian Testrow said. Importantly, the maturity date of the remaining notes has been extended to 2024. After the transaction, Emeco will have $153 million of total available liquidity. These changes allow the company to focus on its operations and grow its business. Institutional entitlement offer The mining plant and equipment provider raised roughly $111 million through issuing 131 million new shares at 85 cents each.