Stock, warrants sold through Cantor Fitzgerald and Rodman & Renshaw
By Devika Patel
Knoxville, Tenn., Aug. 2 – Vista Gold Corp. said it priced a $15.05 million public offering of units with a 15% greenshoe.
The company will sell 10.75 million units of one common share and one half-share warrant at $1.40 per unit, with each whole warrant exercisable at $1.92 for three years. The strike price is a 20.76% premium to the Aug. 1 closing share price of $1.59.
The sale will be conducted on a bought-deal basis by a syndicate of underwriters led by Cantor Fitzgerald Canada Corp. and Rodman & Renshaw.
Settlement is expected Aug. 8.
Proceeds will be used for permitting and to perform selected technical studies at the Mount Todd gold project, to enhance the economics of Mount Todd and prepare it for development. Remaining proceeds will be used for working capital requirements and other general corporate purposes, including ongoing regulatory, legal and accounting expenses, management and administrative expenses, and other corporate initiatives.
Vista is an exploration-stage gold miner based in Denver.
| Issuer: | Vista Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $15.05 million
|
| Greenshoe: | 15%
|
| Units: | 10.75 million
|
| Price: | $1.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $1.92
|
| Underwriters: | Cantor Fitzgerald Canada Corp. and Rodman & Renshaw (leads)
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 8
|
| Stock symbol: | NYSE: VGZ
|
| Stock price: | $1.59 at close Aug. 1
|
| Market capitalization: | $126.91 million
|
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