i-80 Gold (IAUX) said Friday it has closed its previously announced bought deal public offering of about 345.8 million of its units for total gross proceeds of roughly $172.9 million, or $0.50 apiece.
Each unit includes one common share and half of a warrant, with each full warrant allowing the purchase of one common share at $0.70 until Nov. 16, 2027, the company added.
The miner also said it plans to complete a private placement of about 22.4 million of its units for total gross proceeds of approximately $11.1 million, adding that it intends to use the net proceeds from the offering and the private placement for its development plan in Nevada and for general corporate purposes.
i-80 Gold said it expects to close the private placement offering around Tuesday.
Shares of the company were down over 1% in recent Friday trading.
Price: 0.50, Change: -0.01, Percent Change: -1.85
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