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Allied Nevada Gold Corp Announces USD150.5 Million Bought Deal Financing


Tuesday, 30 Apr 2013 09:38am EDT 

Allied Nevada Gold Corp announced that the Company has entered into an agreement with a syndicate of underwriters, led by Dundee Securities Ltd. and including Cormark Securities Inc. (collectively, the Underwriters), which have agreed to purchase, on a bought deal equity financing basis, 14,000,000 shares of common stock of the Company (the Shares) at a price of USD10.75 per Share, for aggregate gross proceeds to the Company of USD150,500,000. The Underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 2,100,000 Shares at a price of USD10.75 per share to cover over-allotments. In the event that the over-allotment option is exercised in its entirety, the aggregate gross proceeds of the offering to the Company will be USD173,075,000. The Company intends to use the net proceeds of the offering to fund capital expenditures at its Hycroft Mine and for general corporate purposes. 

Company Quote

0.92
-0.12 -11.54%
19 Dec 2014