Ivanhoe Electric Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On February 14, 2025, Ivanhoe Electric Inc. (the “Company”) completed the closing of the previously announced public offering (the “Offering”) of 11,794,872 units (the “Units”), with each Unit consisting of one share of the Company’s common stock, par value $0.0001 per share (“Common Stock”) and one warrant to purchase one share of Common Stock (the “Warrants”), at a public offering price of $5.85 per Unit pursuant to an Underwriting Agreement dated February 12, 2025 (the “Underwriting Agreement”) entered into by and between the Company and BMO Capital Markets Corp., as sole underwriter (the “Underwriter”). The net proceeds of the Offering were approximately $66 million, which included the proceeds from the Underwriter’s exercise in full of its option to purchase additional Units. Each Warrant is exercisable to purchase one share of Common Stock until February 14, 2026 at an exercise price of $7.00 per share.
On February 14, 2025, in connection with the Offering, the Company entered into a warrant agent agreement (the “Warrant Agent Agreement”), with Computershare Inc. and Computershare Trust Company N.A., as warrant agent for the Warrants (the “Warrant Agent”). The Warrant Agent Agreement sets forth the form of Warrant, procedures for registering, transferring and exercising the Warrants, procedures for adjustments to the Warrants upon the occurrence of certain events, the procedure for amending the Warrant Agent Agreement and the Warrants and the terms of the Company’s indemnification of the Warrant Agent. The description of the terms of the Warrants set forth under the heading “Description of Securities - Warrants to be Issued in this Offering” in the Company’s final prospectus supplement dated February 12, 2025 to the prospectus dated July 10, 2023, included in the Company’s automatic registration statement on Form S-3 (File No. 333-273195), is hereby incorporated by reference.
The Company’s Executive Chairman, Robert Friedland, purchased 816,667 Units in the Offering at the public offering price per Unit.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IVANHOE ELECTRIC INC. | ||
| Date: February 14, 2025 | By: | /s/ Taylor Melvin |
| Taylor Melvin | ||
| President and Chief Executive Officer | ||