Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

NioCorp to issue new shares at a discount on Nasdaq

EditorRachael Rajan
Published 03/12/2024, 07:19 AM
Updated 03/12/2024, 07:19 AM
© Reuters.

CENTENNIAL, CO - NioCorp Developments Ltd. (NASDAQ:NB)(TSX:NB), a company developing a critical minerals project in Southeast Nebraska, has initiated the process to issue 85,000 new common shares. This move comes as part of an arrangement detailed in the Standby Equity Purchase Agreement dated January 26, 2023.

The company has chosen the Option 2 Pricing Period, which sets the purchase price of the newly issued shares at 97% of their daily volume-weighted average price on Nasdaq over a span of three consecutive trading days starting today. The completion of the transaction is expected to occur around March 14, 2024, contingent upon the fulfillment of certain conditions outlined in the agreement.

NioCorp's project in Nebraska is anticipated to yield niobium, scandium, and titanium, all of which have significant industrial and technological applications, including in the automotive, aerospace, and defense sectors. Furthermore, the company is assessing the potential to extract several rare earth elements at the site, which are essential in the production of neodymium-iron-boron magnets widely used in various applications.

The information in this article is based on a press release statement from NioCorp Developments Ltd.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.