Gold Resource Corporation announces a registered direct offering to certain investors for the purchase and sale of up to 25,315,960 shares of common stock at $0.45 per share.
The offering is expected to result in approximately $11.4 million in total gross proceeds.
Proceeds from the offering will be used to prepay a loan under an existing agreement and for general corporate purposes.
Registered Direct Offering
The Company is pursuing a registered direct offering with certain investors for the purchase and sale of up to 25,315,960 shares of common stock at a price of $0.45 per share, aiming for total gross proceeds of about $11.4 million.
Debt Prepayment
Approximately $6.4 million of the net proceeds will be used to prepay the principal amount of the loan under the Loan Agreement, enhancing financial flexibility.
Impact on Balance Sheet
The offering will eliminate outstanding debt from the Company's balance sheet, positioning it for long-term success and enhancing financial flexibility.
- The registered direct offering will enhance the Company's financial flexibility and eliminate outstanding debt, paving the way for long-term success.
- With approximately $11.4 million in total gross proceeds, the Company can focus on developing its projects and continuing its growth trajectory.
The announcement of the registered direct offering reflects Gold Resource Corporation's strategic financial planning and commitment to strengthening its financial position for future growth and success.