Golden Minerals raises ~$2.1M via registered direct offering and private placement

Golden Minerals Co

Sold 790,000 shares at $1.45 and pre-funded warrants for 637,587 shares at $1.4499 each, gross proceeds ~$2.1M.
Common warrants to purchase up to 1,427,587 shares at $1.90, exercisable 6 months after issuance, 5-year term.
Offering closed June 29, 2023; proceeds for working capital and possible Unifin Financiera lawsuit settlement.
Anti-dilution adjustments reduce exercise price of Series A warrants from $7.50 to $1.45 and Series B to $6.50.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Golden Minerals Co entered into Securities Purchase Agreement with certain institutional investors valued at aggregate gross proceeds from the Offering of approximately $2.1 million (effective 2023-06-26).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: aggregate gross proceeds from the Offering of approximately $2.1 million
Effective: 2023-06-26

Exact text from the filing

On June 26, 2023, Golden Minerals Company (the “Company”), a Delaware corporation, entered into a Securities Purchase Agreement with certain institutional investors (the “Securities Purchase Agreement”) providing for the issuance and sale by the Company in a registered direct offering (the “Offering”), (i) an aggregate of 790,000 shares of the Company’s common stock, $0.01 par value per share (“Common Stock”) at a purchase price of $1.45 per share (the “Offering Shares”) and (ii) pre-funded warrants exercisable for up to 637,587 shares of Common Stock (the “Pre-Funded Warrants”) at a purchase price of $1.4499 per Pre-Funded Warrant, for aggregate gross proceeds from the Offering of approximately $2.1 million, before deducting the placement agent fee (as described in greater detail below) and estimated offering expenses.

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Golden Minerals Co filing history →

Source: SEC EDGAR

accession 0001104659-23-076292

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