Company News

BUZZ-Northern Dynasty's U.S. listed shares fall on stock deal

** Canadian miner Northern Dynasty enters into deal with underwriters, led by Cantor Fitzgerald Canada

** Underwriters to pick up 12.2 mln of co’s shares on a bought deal basis at 41 cents/shr

** Deal to fetch the co about $5 mln in proceeds

** 12.2 mln shares represents 3.5% of co’s total outstanding shares as of Tuesday - Refinitiv data

** Co says actively exploring long-term project financing options

** Co says, in addition to the offering, it is proposing a private placement outside of the U.S. of up to 3.7 mln common shares, which will raise up to $1.5 mln

** Co’s U.S.-listed shares down ~14% to 43 cents

** 2 of 3 brokerages rate the Canadian-listed shares “buy” and 1 “hold”; their median PT is C$1.30

** NDM shares have slipped ~15% YTD (Reporting by Shradha Singh in Bengaluru)