Business
Hycroft Announces Upsizing And Pricing Of Underwritten Public Offering Of Units Of Common Stock And Warrants
DENVER, Oct. 2, 2020 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company"), today announced that it has upsized and
About this update from Hycroft Mining Holding Corporation
[{"type":"text","content":"DENVER, Oct. 2, 2020 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) (\"Hycroft\" or the \"Company\"), today announced that it has upsized and priced a public offering (the \"Offering\") of 8,333,334 units, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock (the \"Units\") at an offering price of US$9.00 per Unit, for gross proceeds (before underwriting discounts and commissions and estimated offering expenses) of approximately US$75,000,000 million. The Offering was upsized from the previously announced Offering size of 7,220,000 Units. BMO Capital Markets Corp., Stifel, Nicolaus & Company, Incorporated and Canaccord Genuity LLC are acting as Joint Book-runners for the Offering with Cormark Securities acting as Co-Manager (collectively, the \"Underwriters\").\n\n \n \n \n \n \n \n\n \nEach whole warrant entitles the holder thereof to purchase one share of our common stock at an exercise price of US$10.50 for a period of five years from the closing date of the Offering. In addition, the Underwriters have the option to buy up to an additional 1,250,000 Units at a price US$8.505 per Unit, exercisable in whole or in part at any time up to 30 days following the date of this announcement to cover over-allotments.\nA registration statement relating to the securities at the previously announced Offering size has been filed with the Securities and Exchange Commission (\"SEC\") and was declared effective on October 1, 2020. An additional registration statement relating to the upsized number of securities was filed with the SEC on October 2, 2020 and was deemed immediately effective. \nThe preliminary prospectus relating to the Offering has been filed with the SEC and may be found on the SEC's website at www.sec.gov. When available, electronic copies of the final prospectus relating to the Offering may be found on the SEC's website and can be obtained by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, tel: (800) 414-3627, email: [email protected].\nThe Offering is expected to close on or about October 6, 2020. The warrants will not be separately listed for trading.\nThis news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale ...