i-80 Announces Upsizing Of Previously Announced Bought Deal Financing Of Units; i-80 Will Now Issue 60.607M Units At A Price Of C$1.65/Unit For Gross Proceeds Of C$100,001,550
Portfolio Pulse from Benzinga Newsdesk
i-80 Gold Corp. (IAUX) has upsized its previously announced bought-deal financing due to excess demand. The company will now issue 60.607 million units at C$1.65 per unit, raising C$100,001,550. Each unit includes one common share and half a warrant, with each warrant allowing the purchase of one common share at C$2.15 for 48 months. An over-allotment option for an additional 15% of the base offering is granted to underwriters, potentially raising up to C$15,000,233 more.
April 08, 2024 | 2:37 pm
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i-80 Gold Corp. has increased its financing deal to issue 60.607M units at C$1.65/unit, raising C$100,001,550, indicating strong investor demand and potential for expanded operations or projects.
The upsizing of the financing deal for i-80 Gold Corp. suggests strong market demand and investor confidence in the company's future prospects. This influx of capital could significantly bolster the company's financial position, enabling it to pursue expansion projects or reduce existing debt, which is generally viewed positively by the market. However, the impact on the stock price will also depend on how the market perceives the dilution effect of issuing new shares.
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