Ero Copper Announces $105M Bought Deal Financing
Portfolio Pulse from Benzinga Newsdesk
Ero Copper Corp. (NYSE:ERO) has announced a bought deal financing agreement with a syndicate of underwriters led by BMO Capital Markets. The underwriters will purchase 8,510,000 common shares at a price of $12.35 per share, generating gross proceeds of approximately $105 million. The proceeds will be used to advance growth initiatives at Ero's Tucumã Project and Caraíba Operations, advance regional exploration programs, and for general corporate and working capital purposes. The offering is expected to close on November 14, 2023.
November 06, 2023 | 10:48 pm
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Ero Copper Corp. is raising $105 million through a bought deal financing agreement. The funds will be used for growth initiatives and working capital, which could potentially strengthen the company's financial position and fuel its growth.
The news of Ero Copper Corp. raising $105 million through a bought deal financing agreement is directly relevant to the company and its stock. The funds will be used for growth initiatives and working capital, which could potentially strengthen the company's financial position and fuel its growth. This could have a positive impact on the company's stock price in the short term.
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