By Devika Patel
Knoxville, Tenn., June 2 - Hecla Mining Co. said it arranged a private placement of stock to raise approximately $60 million.
The company will sell approximately 17.4 million common shares at $3.45 per share.
Investors also will receive series 4 warrants for approximately 12.2 million shares, which are exercisable at $3.68 for 181 days beginning 181 days after closing.
Rodman & Renshaw, LLC is the placement agent.
Settlement is expected Friday.
Proceeds will be used to repay debt.
Hecla, based in Coeur d'Alene, Idaho, mines, processes and explores for silver and gold.
| Issuer: | Hecla Mining Co.
|
| Issue: | Common stock
|
| Amount: | $60 million (approximate)
|
| Shares: | 17.4 million (approximate)
|
| Price: | $3.45
|
| Warrants: | For approximately 12.2 million shares
|
| Warrant expiration: | 181 days
|
| Warrant strike price: | $3.68
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | June 2
|
| Settlement date: | June 5
|
| Stock symbol: | NYSE: HL
|
| Stock price: | $3.70 at close June 1
|
| Market capitalization: | $750 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
