8-K/A
filed March 15, 2023, 7:59 PM ET
ticker MUX
CIK 0000314203
other material
confidence high
sentiment neutral
materiality 0.65
McEwen Copper sells $30M in shares to Nuton (Rio Tinto); amends collaboration agreement
McEwen Inc.
- Nuton purchased 350,000 McEwen Copper shares for $6.56M via preemptive right; 1.25M shares for $23.44M from company.
- Transactions completed March 15, 2023; total cash proceeds to McEwen Copper and McEwen Mining of $30M.
- Amendment grants Nuton preemptive rights after IPO, right of first refusal on future funding, and information rights.
- Extension of Nuton's exclusivity for heap-leach technology; company and McEwen waive drag-along rights on Nuton shares.
- Definitive agreements executed March 9, 2023 include Subscription Agreement, Share Purchase Agreement, and Amendment No. 1.
Key facts
Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
McEwen Inc. entered into Subscription Agreement with Nuton LLC valued at $6,562,500 (effective 2023-03-09).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Nuton LLC
- Value
- $6,562,500
- Effective
- 2023-03-09
Exact text from the filing
A Private Placement Subscription Agreement dated as of March 9, 2023 between Nuton and McEwen Copper (“ Subscription Agreement ”) sets forth the terms and conditions pursuant to which the purchase and sale of McEwen Copper common stock from that entity would be effected.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
McEwen Inc. entered into Share Purchase Agreement with Nuton LLC valued at $23,437,500 (effective 2023-03-09).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Nuton LLC
- Value
- $23,437,500
- Effective
- 2023-03-09
Exact text from the filing
A Share Purchase Agreement among the Company, McEwen Copper, Minera Andes Inc. and Nuton, also dated March 9, 2023, sets forth the terms and conditions upon which the Company, through one of its subsidiaries, would sell the McEwen Copper common stock to Nuton (“ Share Purchase Agreement ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
McEwen Inc. amended Amendment No. 1 to the Original Collaboration Agreement with Nuton LLC (effective 2023-03-09).
- Action
- amendment
- Agreement
- collaboration
- Counterparty
- Nuton LLC
- Effective
- 2023-03-09
Exact text from the filing
Contemporaneously with the execution of the Subscription Agreement and the Share Purchase Agreement on March 9, 2023, the Company, McEwen Copper, Mr. McEwen and Nuton entered into Amendment No. 1 to the Original Collaboration Agreement.
View on SEC.gov
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