Tiger Brokers

i-80 Gold Expects to Raise $135 Million From Bought Deal Offering of Units

MT Newswires Live
May 09

i-80 Gold (IAUX) said Friday it agreed to sell 270 million units at $0.50 each in a bought deal offering to raise $135 million in gross proceeds.

The company said each unit includes one common share and half of a warrant, with each full warrant allowing the purchase of one share at $0.70 for 30 months after closing.

i-80 Gold said it granted underwriters a 30-day option to buy up to an additional 15% of the offering, expected to add $20.25 million in proceeds.

The company said it intends to use the proceeds from the offering, expected to close around May 16, to support its new development plan in Nevada and for general corporate purposes.

Shares of the company were down more than 17% in recent Friday premarket activity.

Price: 0.50, Change: -0.10, Percent Change: -17.15

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