- MAG Silver (MAG) has announced a bought-deal offering for gross proceeds of approximately US$40 million
- The underwriters led by BMO Capital Markets and Raymond James Ltd. have agreed to buy 2.34 million shares at a price of $17.15 per share
- The underwriters have been granted a 15 per cent over-allotment option
- The offering is expected to close on or about November 29
- MAG Silver Corp. is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company
- MAG Silver Corp. (MAG) opened trading at C$22.93 per share
MAG Silver (MAG) has announced a bought-deal offering for gross proceeds of approximately US$40 million.
The company has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Raymond James Ltd. under which the underwriters have agreed to buy on a bought deal basis 2,340,000 common shares at a price of US$17.15 per share.
The underwriters have been granted an option, exercisable to purchase up to an additional 15 per cent of the offering to cover over-allotments.
The offering is expected to close on or about November 29, 2021, and is subject to the company receiving all necessary regulatory approvals.
The net proceeds of the offering will be used to fund exploration and for working capital and general corporate purposes.
MAG Silver Corp. is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas.
MAG Silver Corp. (MAG) opened trading at C$22.93 per share.