Business
Ivanhoe Electric Announces Full Exercise and Closing of Underwriters' Option for $22.5 Million in Public Offering of Common Stock, Increasing Gross Proceeds to $172.5 Million
Phoenix, Arizona--(Newsfile Corp. - October 27, 2025) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric"), Executive Chairman, Robert Friedland and President and Chief Executive Officer, Taylor Melvin are pleased to announce the full exercise and closing on October 27, 2025, of the underwriters' option to purchase an additional 1,500,000 shares of Ivanhoe Electric's common stock at a public offering price of $15.00, pursuant to the previously announced and completed...
About this update from Ivanhoe Electric Inc.
[{"type":"text","content":"Phoenix, Arizona--(Newsfile Corp. - October 27, 2025) - Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) ("Ivanhoe Electric"), Executive Chairman, Robert Friedland and President and Chief Executive Officer, Taylor Melvin are pleased to announce the full exercise and closing on October 27, 2025, of the underwriters' option to purchase an additional 1,500,000 shares of Ivanhoe Electric's common stock at a public offering price of $15.00, pursuant to the previously announced and completed underwritten public offering of 10,000,000 shares of Ivanhoe Electric's common stock at a public offering price of $15.00 per share. The gross proceeds from the offering, including the proceeds from the exercise of the underwriters' option, were $172.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Ivanhoe Electric.","length":898,"tagName":"p"},{"type":"text","content":"We intend to use the net proceeds from this offering to complete the remaining payments owed from the purchase of land at our Santa Cruz Copper Project in Arizona, to fund early development activities at the Santa Cruz Copper Project, to fund exploration activities at our current projects and joint ventures, and for other working capital and general corporate purposes.","length":371,"tagName":"p"},{"type":"text","content":"BMO Capital Markets acted as lead book-running manager of the offering. J.P. Morgan and National Bank of Canada Capital Markets acted as book-running managers of the offering.","length":175,"tagName":"p"},{"type":"text","content":"A registration statement on Form S-3 (No. 333-273195) relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was automatically declared effective on July 10, 2023. The shares being offered in this offering were offered by means of a prospectus supplement and accompanying prospectus relating to the offering that form a part of the registration statement. The final prospectus supplement relating to the offering was filed with the SEC on October 22, 2025, and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from BMO Capital Markets Corp., Attn: Equity Syndicate Depart...