Loading ...I guess with the share price up a little they feel it’s time to do what these guys always do, dilute the crap out of their shareholders.
Good for a 7% haircut in the premarket, down to the $4.60 offering price.
08:47 AM EST, 11/20/2024 (MT Newswires) — Endeavour Silver (EXK) said it has agreed to a bought-deal financing arrangement to sell about 15.8 million common shares at $4.60 each, expecting to raise roughly $73 million.
The company said the agreement, led by BMO Capital Markets and a syndicate of underwriters, includes a 30-day option for underwriters to purchase up to 10% additional shares to cover over-allotments.
Endeavour said it intends to use the net proceeds from the offering, set to close around Nov. 27, for general working capital and to advance the Pitarrilla Project.