NIOCORP DEVELOPMENTS LTD (NB): debt financing — NioCorp closes $8M private placement of unsecured notes and warrants

NIOCORP DEVELOPMENTS LTD

Closed $8M aggregate principal unsecured notes private placement; net proceeds of $6.96M.
Notes mature Dec 31, 2024; 0% interest (18% upon default); monthly $1.4M principal payments starting June 2024.
Issued warrants to purchase up to 615,385 common shares at $3.25/share, exercisable for 3 years.
Notes convertible at $2.75/share into up to 3,141,817 common shares; subject to beneficial ownership limits.
Proceeds used for working capital, payables, operating expenses, and placement fees.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NIOCORP DEVELOPMENTS LTD incurred convertible notes of $8,000,000 aggregate principal amount with YA II PN, Ltd. and Lind Global Fund II LP at simple interest rate obligation of 0.0% per annum (which will increase to 18.0% maturing December 31, 2024.

Instrument: convertible notes
Principal: $8,000,000 aggregate principal amount
Counterparty: YA II PN, Ltd. and Lind Global Fund II LP
Rate: simple interest rate obligation of 0.0% per annum (which will increase to 18.0%
Maturity: December 31, 2024
Event: incurrence

Exact text from the filing

On April 11, 2024, NioCorp Developments Ltd. ("NioCorp" or the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”), with YA II PN, Ltd. (“Yorkville”) and Lind Global Fund II LP (“Lind” and together with Yorkville, the “Purchasers”), pursuant to which the Company agreed to issue and sell to the Purchasers, in a private placement (the “Private Placement”), $8,000,000 aggregate principal amount of unsecured notes (the “Notes”).

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305 debt financings filed in the last 30 days. Browse all debt financings →

NIOCORP DEVELOPMENTS LTD filing history →

Source: SEC EDGAR

accession 0001539497-24-000818

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