NioCorp Announces Commencement Of Proposed Underwritten Public Offering Of Common Shares & Warrants; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
NioCorp Developments Ltd. (NASDAQ:NB) has announced a proposed underwritten public offering of common shares and warrants in the US, alongside a private placement. The proceeds will be used for working capital, advancing the Elk Creek Project, and repaying a credit facility. The offering's completion and terms are uncertain.
November 01, 2024 | 9:22 pm
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NioCorp is initiating a public offering of shares and warrants, with proceeds aimed at funding the Elk Creek Project and repaying debt. The offering's completion and terms are uncertain, which may affect stock volatility.
The announcement of a public offering can lead to stock price volatility due to potential dilution and market reaction to the offering's terms. However, the use of proceeds for strategic projects and debt repayment could be seen positively. The uncertainty around the offering's completion and terms adds to the neutral short-term impact.
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