Ivanhoe Electric Announces Closing of Public Offering and Exercise of Underwriter's Option

Core Viewpoint - Ivanhoe Electric has successfully closed a public offering, raising approximately $69 million, which will be utilized for various corporate purposes including a feasibility study for the Santa Cruz Project [1][2]. Group 1: Offering Details - The public offering consisted of 11,794,872 Units priced at$5.85 each, including the full exercise of the underwriter's option for an additional 1,538,461 Units [1]. - Each Unit comprises one share of common stock and one warrant to purchase an additional share at an exercise price of $7.00 for 12 months [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated towards the preliminary feasibility study for the Santa Cruz Project, land acquisition payments, drilling, exploration activities, and general corporate purposes [2]. Group 3: Underwriter and Regulatory Information - BMO Capital Markets served as the sole book-running manager for the offering [3]. - A registration statement related to the securities was filed with the U.S. Securities and Exchange Commission and was declared effective on July 10, 2023 [4].