Hycroft Mining Holding Corporation announced the closing of a $60 million non-brokered private placement.
The Private Placement included 14,017,056 units at $4.2805 per unit, with Eric Sprott as the lead investor.
Proceeds from the placement will support the advancement of the Hycroft Mine and general corporate purposes, leaving the company with approximately $129 million in unrestricted cash.
Lead Investor
Eric Sprott led the $60 million Private Placement for Hycroft Mining Holding Corporation.
Usage of Proceeds
Funds will primarily support the Hycroft Mine's advancement and general corporate needs.
Ownership Changes
Mr. Sprott now holds around 33% of the company's shares and 10,188,176 warrants.
Regulation Compliance
The private placement was conducted under Section 4(a)(2) of the Securities Act of 1933.
- The Private Placement strengthens Hycroft's financial position for mine development.
- Eric Sprott's significant ownership enhances investor confidence in the company.
- The regulatory compliance ensures transparency and legality in the fundraising process.
The successful closing of the Private Placement highlights investor trust in Hycroft Mining Holding Corporation's growth prospects and operational plans.