Company sells shares at $2.50 apiece; deal has $1.28 million greenshoe
By Devika Patel
Knoxville, Tenn., April 13 - Solitario Exploration & Royalty Corp. orchestrated an $8.5 million public offering of stock, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission. There is a $1.28 million greenshoe.
The company will sell 3.4 million common shares at $2.50 apiece. The price per share reflects an 18.57% discount to the April 12 closing share price of $3.07.
Roth Capital Partners is the agent.
Proceeds will be used for the exploration and development of mineral properties, debt repayment and general corporate purposes, including capital expenditures and working capital.
Solitario is a Wheat Ridge, Colo.-based precious and base metals exploration company.
| Issuer: | Solitario Exploration & Royalty Corp.
|
| Issue: | Common shares
|
| Amount: | $8.5 million
|
| Greenshoe: | $1,275,000
|
| Shares: | 3.4 million
|
| Price: | $2.50
|
| Warrants: | No
|
| Agents: | Roth Capital Partners
|
| Pricing date: | April 13
|
| Stock symbol: | Amex: XPL
|
| Stock price: | $2.76 at close April 13
|
| Market capitalization: | $82.18 million
|
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