NioCorp Developments (NB) said Monday it closed a public share offering for total gross proceeds of $20.8 million.

The offering consisted of around 7.7 million shares priced at $2.60 apiece for proceeds of about $20 million, and an overallotment of an additional 323,504 shares for proceeds of about $0.8 million, the company said.

NioCorp shares were down by more than 6% in recent trading.

Price: 2.69, Change: -0.15, Percent Change: -5.28