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Be the first with the news that moves the market- Ivanhoe Electric Inc. (IE) closed its initial public offering of 14,388,000 shares of its common stock at US$11.75 per share
- Gross proceeds were US$169.1 million
- Ivanhoe Electric intends to use the net proceeds of the offering to fund certain payments to acquire or maintain its mineral and property rights to its material and key mineral properties
- Ivanhoe Electric (IE) is a U.S.-based minerals exploration and development company out to combine mineral exploration technologies, renewable energy storage solutions, and electric metals projects
- Ivanhoe Electric Inc. (IE) is trading 11 per cent lower at C$11.00 a share as of 1p.m. ET
Ivanhoe Electric (IE) has closed its initial public offering of 14,388,000 shares for US$11.75 per share.
The gross proceeds from the offering were US$169.1 million, before deducting underwriting discounts and commissions and estimated offering expenses.
In addition, Ivanhoe Electric has granted the underwriters a 30-day option to purchase up to an additional 2,158,200 shares of common stock at the initial public offering price.
Net proceeds will fund certain payments to acquire or maintain its mineral and property rights to its material and key mineral properties. The company also aims to further its metals exploration activities at all its mineral properties, to construct and deploy additional sets of its Typhoon electrical pulse-powered geophysical surveying transmitter technology.
Ivanhoe Electric (IE) is a U.S.-based minerals exploration and development company out to combine mineral exploration technologies, renewable energy storage solutions, and electric metals projects.
Ivanhoe Electric Inc. (IE) is trading 11 per cent lower at C$11.00 a share as of 1p.m. ET.
