Ivanhoe Electric issues 1.51M shares to Ma'aden at $13.50 for $20.4M to maintain 9.9% stake

Ivanhoe Electric Inc.

Ma'aden exercises top-up right to purchase 1,513,650 shares at $13.50/share, aggregate $20.4M.
Issuance triggered by September 2023 public offering; shares sold in private placement under Regulation S.
Proceeds to advance U.S. mineral projects and for working capital; closing expected Oct 31, 2023.
Ma'aden maintains 9.9% ownership; shares subject to transfer restrictions and registration rights.

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 Ma'aden valued at 1,513,650 shares at $13.50 per share for aggregate gross proceeds of approximately $20.4 million (effective 2023-10-23).

Action: entry
Agreement: equity purchase
Counterparty: Ma'aden
Value: 1,513,650 shares at $13.50 per share for aggregate gross proceeds of approximately $20.4 million
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, the Company entered into a Common Stock Subscription Agreement (the “Subscription Agreement”) with Ma’aden.

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Ivanhoe Electric Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-013313

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