Perpetua Resources Corporation (NASDAQ: PPTA) Completes Common Stock Offering

On November 18, 2024, Perpetua Resources Corp. entered into an underwriting agreement with BMO Capital Markets Corp. for the issuance and sale of 3,439,465 shares of its common stock. This agreement included an option for the underwriters to purchase an additional 515,919 shares within 30 days. The company priced the shares at $10.17 per share for the public offering.

The underwriting agreement outlined various standard provisions such as representations, warranties, market standoff provisions, termination clauses, and indemnification obligations, particularly under the Securities Act of 1933. The offering was executed through the company’s shelf registration statement on Form S-3 (File No. 333-266071) and a prospectus supplement filed with the SEC on November 18, 2024.

The common stock offering, which closed on November 20, 2024, is expected to generate approximately $33.6 million in net proceeds after deducting underwriting discounts, commissions, and offering expenses. Perpetua Resources intends to utilize these funds for down payments on long lead time materials, detailed engineering for the Stibnite Gold Project, and general corporate purposes.

The detailed terms of the Underwriting Agreement can be found as Exhibit 1.1 in the company’s Current Report on Form 8-K filed with the Securities and Exchange Commission. Additionally, the company disclosed in Item 9.01 of the report that the offering was accompanied by an Opinion of Cozen O’Connor LLP on the legality of the securities registered, along with the necessary consents and an Interactive Data File.

It is important to note that statements included in this report that are forward-looking are subject to risks and uncertainties, as disclosed under the Cautionary Statement. Perpetua Resources Corp. affirmed its status as an emerging growth company and confirmed its decision not to utilize the extended transition period for complying with new or revised financial accounting standards.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Perpetua Resources’s 8K filing here.

Perpetua Resources Company Profile

Perpetua Resources Corp. engages in the exploration and development of mineral properties in the United States. The company primarily explores for gold, silver, and antimony deposits. Its principal asset is the 100% owned Stibnite Gold project, which includes 1,672 unpatented lode claims, mill sites, and patented land holdings covering an area of approximately 11,548 hectares located in Valley County, Idaho.