NioCorp Delivers Advance Notice Under The Standby Equity Purchase Agreement
Portfolio Pulse from Benzinga Newsdesk
NioCorp Developments Ltd. has issued an Advance Notice for the purchase of 75,000 shares under the Standby Equity Purchase Agreement. The shares will be priced at 97% of the volume-weighted average price on Nasdaq over three days, with the sale expected to close around September 30, 2023. The shares are being offered without registration under the Securities Act, relying on an exemption, and no prospectus has been filed in Canada.
November 28, 2023 | 1:24 pm
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NioCorp Developments Ltd. is proceeding with the sale of 75,000 shares, which may dilute current shareholders but provide capital for the company. The sale is expected to close by September 30, 2023.
The issuance of new shares typically dilutes existing shareholders, which can put downward pressure on the stock price. However, the capital raised may be used for growth or operational purposes, which could be positive in the long term. The short-term impact is uncertain as it depends on investor perception of the use of proceeds and the company's prospects.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100