Hycroft Mining Holding Corporation has successfully closed a $60 million private placement, with Eric Sprott leading the investment. The placement involved the issuance of 14,017,056 units at a price of $4.2805 per unit, with each unit comprising one common share and one-half common share purchase warrant. The warrants are exercisable at $6.00 per share over a 24-month period. The funds from this private placement will be used to advance the Hycroft Mine and for general corporate purposes. Following the transaction, Eric Sprott now holds approximately 33% of Hycroft's outstanding shares.
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