Ivanhoe Electric Completes $66 Million Public Offering

Ivanhoe Electric Inc. (NYSEAMERICAN: IE) finalized a public offering totaling $66 million on February 14, 2025. The offering included 11,794,872 units, each comprising a share of the company’s common stock priced at $0.0001 per share and a warrant to acquire one additional share of common stock. The offering, announced earlier, was arranged at a public offering price of $5.85 per unit under an Underwriting Agreement dated February 12, 2025, executed with BMO Capital Markets Corp., acting as the sole underwriter. The net proceeds from the offering encompassed the full exercise of the underwriter’s option for additional units.

Individual warrants are exercisable to purchase one share of common stock at an exercise price of $7.00 per share until February 14, 2026. In conjunction with this offering, Ivanhoe Electric entered into a warrant agent agreement on February 14, 2025, with Computershare Inc. and Computershare Trust Company N.A., designated as the warrant agent for the warrants. The agreement delineates various aspects, including warrant registration, transfer, exercise procedures, adjustment protocols based on specific events, terms for amending the agreement and warrants, and details of the company’s indemnification of the warrant agent.

Notably, Robert Friedland, the Executive Chairman of Ivanhoe Electric, acquired 816,667 units during the offering at the prevailing public offering price.

The detailed terms and conditions regarding the warrants can be found in the Company’s final prospectus supplement dated February 12, 2025. The prospectus is included in the automatic registration statement on Form S-3 (File No. 333-273195) filed on July 10, 2023.

Taylor Melvin, President and Chief Executive Officer of Ivanhoe Electric Inc., signed the report on February 14, 2025, in compliance with Securities Exchange Act regulations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ivanhoe Electric’s 8K filing here.

Ivanhoe Electric Company Profile

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.