Ma'aden exercises top-up right, buying 1.51M shares at $13.50 for $20.4M gross proceeds

Ivanhoe Electric Inc.

Ma'aden will purchase 1,513,650 common shares at $13.50/share, total gross proceeds ~$20.4M.
Ma'aden maintains its 9.9% ownership stake in Ivanhoe Electric after September equity offering.
Proceeds intended to advance US mineral projects, working capital, and general corporate purposes.
Closing expected on October 31, 2023, subject to customary conditions and stock exchange approvals.

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

Ivanhoe Electric Inc. entered into Common Stock Subscription Agreement with Saudi Arabian Mining Company Ma’aden valued at aggregate gross proceeds of approximately $20.4 million (effective 2023-10-23).

Action: entry
Agreement: equity purchase
Counterparty: Saudi Arabian Mining Company Ma’aden
Value: aggregate gross proceeds of approximately $20.4 million
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, Ivanhoe Electric Inc. (the “Company”) entered into a Common Stock Subscription Agreement (the “Subscription Agreement”) with Saudi Arabian Mining Company Ma’aden (“Ma’aden”).

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Ivanhoe Electric Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-013262

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