NioCorp Developments Enters into Underwriting Agreement, Completes Public Offering

On November 5, NioCorp Developments Ltd. announced the closure of a public offering following the signing of an underwriting agreement with Maxim Group LLC on November 3. The underwriting agreement facilitated the issuance and sale of 1,592,356 common shares without a par value, along with corresponding warrants. The offering was registered under the Securities Act and included 1,592,356 Series A Public Warrants and 796,178 Series B Public Warrants, with a combined public offering price of $1.57 per Common Share and accompanying Public Warrants.

The Underwriting Agreement granted Maxim Group LLC a 45-day option to acquire additional Common Shares and Option Warrants, with an exercise made on November 4 for additional Public Warrants. Subsequently, on November 5, NioCorp Developments finalized a Warrant Agency Agreement with Computershare Inc. and Computershare Trust Company, N.A., detailing the terms of the Public Warrants.

Each Series A Public Warrant is exercisable for one Common Share at $1.75 and expires on November 5, 2026, while Series B Public Warrants are exercisable for one Common Share at $2.07 and expire on November 5, 2029. Notably, both types of warrants include provisions limiting ownership percentages post-exercise.

Proceeds from the offering totaled approximately $1.39 million, after adjusting for underwriting discounts, commissions, and expenses. The Offering was conducted under NioCorp’s effective registration statement on Form S-3 (File No. 333-280176) filed with the Securities and Exchange Commission (SEC) on June 13, 2024.

In line with regulatory obligations, NioCorp disclosed the closing of the Offering on November 5, 2024. The Company also provided additional information on the underwriting process, agreements, and related event specifics through the SEC filing.

Following the completion of the offering, NioCorp Developments included various exhibits related to the Underwriting Agreement, Warrant Agency Agreement, forms of Public Warrants, and legal opinions from Blake, Cassels & Graydon LLP and Jones Day in the SEC filing.

The Company’s Chief Financial Officer, Neal S. Shah, signed the report on behalf of NioCorp Developments Ltd., as required by the Securities Exchange Act of 1934.

This article serves as a summarized update based on the details provided in the Form 8-K SEC filing by NioCorp Developments Ltd.

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

NioCorp Developments Company Profile

NioCorp Developments Ltd. operates as a development stage company. It engages in the acquisition, exploration, and development of mineral properties. The company is headquartered in Centennial, CO.