Andean Precious Metals Announces C$83.1 Million Bought Public Secondary Offering of Common Shares

Core Viewpoint - Andean Precious Metals Corp. has announced a secondary offering of 7,915,000 common shares at a price of C$10.50 per share, aiming to strengthen its shareholder base and improve trading liquidity [1][3]. Group 1: Secondary Offering Details - The secondary offering will generate aggregate gross proceeds of C$83,107,500 for the Selling Shareholder, PMB Partners LP [1]. - The Underwriters have a one-time option to purchase an additional 15% of the common shares to cover over-allotments [2]. - The net proceeds from the offering will go directly to the Selling Shareholder, with the Company not receiving any proceeds [3]. Group 2: Shareholder and Ownership Structure - Following the secondary offering, the Selling Shareholder will own approximately 47.94% of the outstanding common shares, down from 53.22% [8][9]. - If the Underwriters' option is fully exercised, the Selling Shareholder's ownership will further decrease to 47.15% [9]. Group 3: Strategic Intent - The transaction is intended to attract institutional investors and increase public float, thereby enhancing liquidity without diluting existing shareholders [3][4]. - The Executive Chairman and CEO, Alberto Morales, emphasized his commitment to the Company's strategy and long-term value creation [5]. Group 4: Regulatory and Offering Process - The common shares will be offered publicly in all Canadian provinces and territories, except Québec and Nunavut, and may also be offered to qualified institutional buyers in the U.S. under Rule 144A [6]. - The offering is subject to corporate and regulatory approvals and is expected to close around January 28, 2026 [5]. Group 5: Lock-Up Agreements - The Selling Shareholder has agreed not to sell any common shares for 90 days post-closing, and the Company will also refrain from issuing new shares during this period [7].