Ivanhoe Electric Announces Full Exercise and Closing of Underwriters' Option for $22.5 Million in Public Offering of Common Stock, Increasing Gross Proceeds to $172.5 Million

Core Viewpoint - Ivanhoe Electric has successfully completed a public offering of common stock, raising a total of $172.5 million, including the full exercise of the underwriters' option for an additional 1,500,000 shares at a price of $15.00 per share [1] Group 1: Offering Details - The public offering consisted of 10,000,000 shares at a price of $15.00 per share, with gross proceeds reaching $172.5 million before deductions [1] - The offering was managed by BMO Capital Markets as the lead book-running manager, with J.P. Morgan and National Bank of Canada Capital Markets as book-running managers [3] Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for completing payments for land acquisition at the Santa Cruz Copper Project, funding early development activities, supporting exploration activities at current projects and joint ventures, and for general corporate purposes [2] Group 3: Regulatory and Compliance - 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] - The final prospectus supplement was filed with the SEC on October 22, 2025, and is available on the SEC's website [4] - The offering received approval from the Toronto Stock Exchange under the exemption for "Eligible Interlisted Issuers" [6] Group 4: Company Overview - Ivanhoe Electric is a U.S. company focused on advanced mineral exploration technologies, primarily targeting copper and other metals, with significant projects including the Santa Cruz Copper Project in Arizona [9]