- i-80 Gold Corp. (IAU) is upsizing its convertible debenture offering
- The revised offering will consist of US$65,000,000 principal amount of secured convertible debentures
- The company had previously announced a “best efforts” private placement offering of up to $50,000,000 principal amount of secured convertible debentures
- i-80 Gold Corp. is a TSX-traded, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status
- i-80 Gold Corp. (IAU) was down 1.397 per cent, trading at C$3.53 at 10:34 AM ET
i-80 Gold Corp. (IAU) has upsized its convertible debenture offering from US$50 million to US$65 million.
The increase in the best efforts” convertible debenture private placement is necessitated by a strong investor demand.
In line with that, the company has signed a revised agreement with Sprott Capital Partners and CIBC Capital Markets as co-lead agents for the upsizing.
The revised offering will consist of US$65,000,000 principal amount of secured convertible debentures.
The company had previously announced a “best efforts” private placement offering of up to $50,000,000 principal amount of secured convertible debentures.
It also granted the co-lead agents an option to increase the size of offering by up to 15 per cent of the number of convertible debentures, exercisable at any time up to three business days prior to the closing of the offering, on the same terms and conditions under the offering.
The convertible debentures will bear a fixed annual interest of 8.00 per cent and will mature on the date that is four years from the offering closing date.
The principal amount of the convertible debentures may be converted into common shares of the company at a conversion price of $3.38 per share.
i-80 Gold Corp. is a TSX-traded, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status.
i-80 Gold Corp. (IAU) was down 1.397 per cent, trading at C$3.53 at 10:34 AM ET.