i-80 Gold Closes ATM Program After Raising $25.1 Million
i-80 Gold (TSX: IAU) has closed out its at-the-market equity program after having been stuck in a trading blackout since February 14. That blackout is expected to last until the end of the quarter, when the five PEA’s it recently announced will be filed with the exchange.
The program saw a total of 26.7 million shares sold on the open markets, raising gross proceeds of $25.1 million for the company. The program, which was enacted in mid-August 2024, permitted i-80 Gold to sell up to US$50 million worth of shares on the market.
The ATM program was originally intended to provide the company with financial flexibility to support growth, which the company says was achieved. However, a recapitalization plan is currently being worked through, with discussions said to still be ongoing with current and potential debt providers.
i-80 Gold last traded at $0.92 on the TSX.
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