Riot Platforms (NASDAQ: RIOT) opened a $500 million at-the-market offering on Tuesday. The new $500 million facility replaces a previous equity sale agreement established on August 9, 2024. Riot terminated that prior agreement effective Tuesday.Under the terms of the agreement, Riot retains discretion over the timing and volume of sales. Riot sold approximately $600.5 million worth of stock under the 2024 agreement prior to its cancellation, with the facility having roughly $149.5 million in unsold capa ...

Core Viewpoint - WSP Global Inc. has successfully completed a bought deal public offering and a concurrent private placement, raising approximately $977.5 million to fund its acquisition of TRC Companies [1][4]. Group 1: Offering Details - The corporation issued 3,616,750 Offering Common Shares at a price of $232.80 per share, generating gross proceeds of approximately $842 million, which includes 471,750 shares from the over-allotment option [2]. - Additionally, 582,328 Placement Common Shares were issued through a concurrent private placement with La Caisse, raising approximately $136 million [3]. Group 2: Use of Proceeds - The net proceeds from the offering and private placement will partially fund the purchase price for the acquisition of TRC Companies, thereby reducing the amount to be drawn from new senior unsecured non-revolving term loans [4]. Group 3: Acquisition Timeline - The acquisition of TRC Companies is anticipated to be completed in the first quarter of 2026, pending customary closing conditions and regulatory approvals [5].

Core Viewpoint - Borr Drilling Limited has successfully completed a public offering of 21 million common shares at a price of $4.00 per share, generating total gross proceeds of $84 million [1] Group 1: Equity Offering Details - The proceeds from the equity offering will be utilized for the acquisition of five premium jack-up rigs, as well as for general corporate purposes, which may include debt service, capital expenditures, and funding of working capital [2] - The equity offering was conducted under an effective shelf registration statement filed with the SEC on April 11, 2025, and was made solely through a prospectus and related prospectus supplement [4] Group 2: Underwriters and Management - DNB Carnegie, Inc. and Clarksons Securities AS acted as joint global coordinators and bookrunners for the equity offering, with Citigroup Global Markets, Inc., Fearnley Securities AS, and Pareto Securities AS serving as joint bookrunners [3]

Core Viewpoint - Borr Drilling Limited has successfully priced its offering of 21 million common shares at $4.00 per share, aiming for total gross proceeds of $84 million to fund acquisitions and corporate purposes [1][2]. Group 1: Equity Offering Details - The proceeds from the Equity Offering will be utilized for the potential acquisition of five premium jack-up rigs and for general corporate purposes, including debt service and capital expenditures [2]. - The delivery of the common shares is expected to occur on or around December 10, 2025 [2]. - The offering was conducted under an effective shelf registration statement filed with the SEC on April 11, 2025 [3]. Group 2: Listing and Trading Information - The company is in the process of listing its shares on Euronext Growth Oslo, with trading expected to begin on December 19, 2025 [4]. - After the re-listing, the company will be dual listed on the Oslo Stock Exchange and the NYSE, with the NYSE remaining the primary listing [5]. Group 3: Offering Management - DNB Carnegie, Inc. and Clarksons Securities AS are serving as joint global coordinators and bookrunners for the Equity Offering, with additional support from Citigroup Global Markets, Inc., Fearnley Securities AS, and Pareto Securities AS [2].

Core Viewpoint - Borr Drilling Limited plans to raise approximately $85 million through an equity offering of 21 million shares to fund the acquisition of five premium jack-up rigs and for general corporate purposes [1][2]. Group 1: Equity Offering Details - The equity offering is expected to generate gross proceeds of around $85 million through the sale of 21 million shares [1]. - Proceeds will be utilized for acquiring rigs, debt service, capital expenditures, working capital, and potential mergers and acquisitions [2]. - The offering will be conducted under an effective shelf registration statement filed with the SEC [4]. Group 2: Financial Partners and Management - DNB Carnegie, Inc. and Clarksons Securities AS are the joint global coordinators and bookrunners for the equity offering [3]. - Major shareholders, including directors Mr. Tor Olav Trøim and Mr. Thiago Mordehachvili, plan to subscribe for $10 million each through associated companies [5]. Group 3: Listing and Trading Information - The company is initiating the process to list its shares on Euronext Growth Oslo, with trading expected to begin on December 19, 2025 [6]. - Following the Oslo Stock Exchange re-listing, the company will be dual-listed on both the OSE and NYSE, with NYSE as the primary listing [7].

Core Viewpoint - South Pacific Metals Corp. has successfully closed a private placement offering, raising gross proceeds of C$9,199,494 to fund exploration activities and general corporate purposes [1][3]. Group 1: Offering Details - The offering consisted of 17,036,100 units priced at C$0.54 per unit, each unit comprising one common share and one-half of a common share purchase warrant [1][2]. - Each warrant allows the holder to purchase one common share at C$0.90 for a period of 24 months following the offering's closing [2]. - The offering included a full exercise of a 15% option, resulting in an additional issuance of 2,222,100 units [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to expand exploration activities and for general corporate purposes [3]. Group 3: Related Party Transactions - The offering involved the issuance of 378,000 units to related parties, amounting to a subscription of C$204,120, which is exempt from formal valuation and minority shareholder approval requirements [4]. Group 4: Agent and Commission - BMO Capital Markets acted as the lead agent and sole bookrunner, with a cash commission of C$491,969.65 paid in connection with the offering [5]. Group 5: Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four key projects [7]. - The company's projects are strategically located near major producers, indicating potential for significant mineralization [8].

Core Viewpoint IREN Limited has announced the pricing of $1 billion aggregate principal amount of convertible senior notes, which includes two series of notes due in 2032 and 2033, aimed at qualified institutional buyers, with the proceeds intended for various corporate purposes including repurchasing existing convertible notes and entering into capped call transactions. Group 1: Transaction Details - IREN is offering $1 billion of 0.25% convertible senior notes due 2032 and $1 billion of 1.00% convertible senior notes due 2033 [1][3] - The notes will accrue interest payable semi-annually starting June 1, 2026, with maturity dates on June 1, 2032, and June 1, 2033 [3] - The initial conversion rate for both series is 19.4553 ordinary shares per $1,000 principal amount, equating to an initial conversion price of approximately $51.40 per share, representing a 25% premium over the last reported sale price of $41.12 [3][6] Group 2: Redemption and Repurchase - Each series of notes is redeemable at IREN's option starting December 6, 2028, for the 2032 notes and December 6, 2029, for the 2033 notes, under certain conditions [4] - In the event of a "fundamental change," noteholders may require IREN to repurchase their notes for cash at the principal amount plus accrued interest [5] - IREN plans to repurchase approximately $227.7 million of existing 3.25% convertible senior notes due 2030 and approximately $316.6 million of 3.50% convertible senior notes due 2029, totaling approximately $1,632.4 million [8] Group 3: Use of Proceeds - The net proceeds from the offering are estimated to be approximately $1,973.8 million, which may increase to $2,270.0 million if additional notes are purchased [11] - Proceeds will be used to fund capped call transactions, repurchase existing convertible notes, and for general corporate purposes [12] Group 4: Capped Call Transactions - IREN has entered into capped call transactions for both series of notes, with an initial cap price of $82.24 per share, representing a 100% premium over the last reported sale price [6][15] - These transactions are designed to reduce potential dilution upon conversion of the notes and offset cash payments required in excess of the principal amount of converted notes [16] Group 5: Company Overview - IREN is a leading AI Cloud Service Provider, specializing in large-scale GPU clusters for AI training and inference, supported by a portfolio of grid-connected land and data centers in renewable-rich regions across the U.S. and Canada [22]

Core Points - South Pacific Metals Corp has entered into an agreement to raise up to C$8 million through a private placement of units, each consisting of one common share and one-half of a common share purchase warrant at an indicative price of C$0.54 per unit [1][2] - Each warrant allows the holder to acquire one common share at C$0.90 for 24 months following the closing date [2] - The net proceeds from the offering will be used to expand exploration activities and for general corporate purposes [3] Regulatory and Offering Details - The units are being offered to purchasers in all provinces of Canada, except Quebec, under the "listed issuer financing exemption" from the prospectus requirement [4] - The offering is expected to close on or about December 8, 2025, subject to regulatory approvals [5] Company Overview - South Pacific Metals Corp is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four key projects [7] - The company's projects are strategically located near major producers, with potential for significant mineralization [8] - Common shares of South Pacific Metals are listed on the TSX Venture Exchange and Frankfurt Stock Exchange [9]

Market Activity - A follow-on equity offering in Qatar is generating hopes for increased activity on the Doha bourse [1]

Financial Data and Key Metrics Changes - The third quarter results showed significant improvement over the previous two quarters, with copper production just under 28 million pounds and adjusted EBITDA of CAD 62 million [4][5][12] - Total revenue for the quarter was CAD 174 million, a 50% increase quarter over quarter, driven by higher sales volume and strong copper pricing [12][13] - The average realized copper price was just shy of $4.50 per pound US, in line with the LME average [12] Business Line Data and Key Metrics Changes - Copper sales for the quarter were 26 million pounds, including 900,000 pounds of cathode, slightly below production due to shipment timing [12] - Molybdenum production increased to 560,000 pounds, reflecting higher moly grades [5] - Operating costs at Florence were CAD 8 million for the quarter, expected to increase as operations ramp up [15] Market Data and Key Metrics Changes - The COMEX price for copper has been trading at a premium to the LME, recently at about 4% premium or roughly $0.20 a pound [10] - The U.S. government plans to revisit tariffs in mid-next year, with potential tariffs on cathode increasing to 15% by the end of 2026 [10] Company Strategy and Development Direction - The company is focused on ramping up production at the Florence project, with expectations to produce copper early in the new year [8][9] - The company plans to advance work at the Yellowhead project, viewing it as an important long-term growth opportunity [11] - The recent equity offering has strengthened the balance sheet, allowing for additional working capital support ahead of the Florence ramp-up [11][15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ramp-up at Florence and the potential for increased production next year [20] - The early results from the wellfield operations are positive, indicating a good start for the project [8][20] - The company is monitoring market dynamics closely, especially regarding potential future tariffs and their impact on copper pricing [10] Other Important Information - The company achieved substantial completion of the SXEW plant at Florence, marking a significant milestone [7][14] - The company ended the quarter with CAD 91 million in cash, positioning it well for future operations [15] Q&A Session Summary Question: Benefits of accelerating wellfield drilling - Management indicated that the key is to open additional wells to increase solution flows, which is crucial for ramp-up [18] Question: Production guidance for next year - Management refrained from providing specific production guidance but expressed optimism based on current conditions [20] Question: Milestones for declaring commercial production - Management stated that the focus will be on operating profit and cash flow rather than traditional metrics for declaring commercial production [26][28] Question: Accounting for revenues and costs - Revenue will be recognized once cathode is sold, and some costs will be capitalized until the plant is fully operational [29] Question: Status of initial capital spend - Management confirmed that the initial capital spend is effectively complete, with only minor commissioning costs expected in Q4 [30]