NioCorp announces pricing of $5M underwritten offering priced at-the-market

NioCorp (NB) Developments announced the pricing of an underwritten offering of 2,577,320 common shares, 2,577,320 Series A warrants to purchase up to 2,577,320 common shares and 1,288,660 Series B warrants to purchase up to an additional 1,288,660 common shares. Each common share is to be sold together with one Series A Warrant and one-half of one Series B Warrant at a combined public offering price of $1.94, for gross proceeds of approximately $5M before deducting underwriting discounts and offering expenses. The Series A Warrants will have an exercise price of $1.98 per underlying common share, are exercisable immediately and will expire thirty months following the date of issuance. The Series B Warrants will have an exercise price of $2.05 per underlying common share, are exercisable immediately and will expire four years following the date of issuance. Maxim Group LLC is acting as sole book-running manager for the Offering. NioCorp currently intends to use the net proceeds from the Offering to repay a portion of the outstanding obligations under the unsecured notes previously issued by the company in April 2024 and for working capital and general corporate purposes, including to advance its efforts to launch construction of a critical minerals project in Southeast Nebraska and move it to commercial operations. The Offering is expected to close on or about January 31, 2025.