Osisko Gold Royalties (TSX: OR) is looking to raise big dollars. The company after the close of markets yesterday announced it will be conducting a bought deal financing to the tune of US$250.2 million, which is to be lead by Eight Capital and RBC Capital Markets.
The offering is slated to see the sale of 18.6 million common shares of Osisko, with each share priced at US$13.45 per each. No warrant is to be included in the offering. An over-allotment option has also been issued, which could see the sale of an additional 2.8 million shares.
The financing appears to be have been pursued due to current market sentiment, with funds to be used for general corporate purposes. Such uses include resource royalty and streaming acquisitions, potential repayment of the firms revolving credit facility, and other corporate development opportunities.
Sponsored · Granada Gold Mine
The offering is currently set to close by March 31.
Osisko Gold Royalties last traded at $17.89 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
