Taseko Mines Secures US$150M in Bought Deal Financing
Taseko Mines (NYSE:TGB) has announced a bought deal financing, selling 37.1 million common shares at US$4.05 each. The gross proceeds total about US$150 million, with the offering including an option for underwriters to buy an additional 15% of the shares. The deal is set to close around Oct. 22, pending regulatory approvals.
The company plans to use the funds to repay debt and for general corporate and working capital purposes. TGB shares fell 3.24% in after-hours trading, closing at $4.18. Notably, the underwriters of this deal are not specified in the available information, and the exact conditions of the option for an additional 15% of the shares are not detailed.
Taseko Mines' bought deal financing is expected to close later this month, with the company using the proceeds to manage its debt and working capital. Despite a slight dip in share price, the company continues to secure funding for its operations.
