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Osisko Development Announces Pricing of US$275.0 Million Aggregate Principal Amount of 4.125% Convertible Senior Notes Offering (25.0% Conversion Premium)
Opportunistic capital raise with net proceeds expected to be used for the development of the Cariboo Gold Project and general corporate purposesA portion of
About this update from Osisko Development Corp
[{"type":"text","content":"Opportunistic capital raise with net proceeds expected to be used for the development of the Cariboo Gold Project and general corporate purposesA portion of net proceeds expected to be used to purchase cash-settled capped calls to offset potential economic dilution at a cap price of US$5.88 per share, representing a 100% premium to US$2.94, being the last reported sale price of the Company's common shares on the NYSE on May 20, 2026 MONTREAL, May 21, 2026 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) (\"Osisko Development\" or the \"Company\") announces the pricing of US$275.0 million aggregate principal amount of 4.125% convertible senior notes due 2031 (the \"Notes\") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under U.S. Securities Act of 1933, as amended (the \"Securities Act\") (the \"Offering\") and in a concurrent private placement (the \"Private Placement\") under Section 4(a)(2) of the Securities Act. The Notes priced with a conversion premium of approximately 25.0% to the last reported sale price per share of the Company's common shares, no par value (the \"Common Shares\") (US$2.94 per Common Share) on the NYSE on May 20, 2026. Qualified institutional buyers have agreed to purchase US$225.0 million principal amount of the Notes in the Offering. Double Zero Capital, LP, an affiliate of the Company, has agreed to purchase US$50.0 million aggregate principal amount of the Notes in the Private Placement (the \"Affiliate Notes\"). The Company granted the initial purchasers of the Notes an option to purchase, during a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional US$25.0 million aggregate principal amount of Notes. The Offering and the Private Placement are expected to close on May 26, 2026 and May 29, 2026, respectively, subject to the satisfaction of customary closing conditions. Transaction Highlights: US$275.0 million offering of convertible senior notes due 2031 (including the Affiliate Notes).If converted, holders of the Notes would receive cash, Common Shares or a combination of cash and Common Shares, at the Company's election.Cash-settled capped call transactions to be purchased in conjunction with the Notes with a cap price of US$5.88 per Common Share, which repr...