On May 24, 2024, IAMGOLD Corporation announced the closing of its previously announced bought deal equity financing for gross proceeds of approximately US$300.24 million. The offering was conducted by a syndicate of underwriters led by National Bank Financial Markets, BMO Capital Markets and RBC Capital Markets, and involved the issuance of 72,000,000 common shares at a price of US$4.17 per share.
The financing supported IAMGOLD’s broader strategic objectives in the mining sector, with the company intending to use the net proceeds toward the repurchase of a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining Co. Ltd. The transaction was a significant capital markets matter, with a value exceeding US$300 million and proceeds directed toward consolidating IAMGOLD’s interest in a key mining asset.
Fasken advised IAMGOLD with a team led by Alex Nikolic and included John Turner, Victoria Zed and Kevin Yip.
Jurisdiction
- Ontario
