i-80 Gold prices upsized $250 million convertible notes offering

i-80 Gold Corp. (TSX: IAU) (NYSE American: IAUX) announced it has priced an offering of $250 million in convertible senior notes due 2031, according to a company statement. The offering was increased from the previously announced $200 million.

The notes will carry a 3.75% annual interest rate paid semi-annually. The initial conversion rate is set at 519.4805 common shares per $1,000 principal amount of notes, equivalent to a conversion price of approximately $1.93 per share. This represents a 37.5% premium to the previous day's closing price on the NYSE American.

Initial purchasers have an option to buy an additional $37.5 million in notes, which would bring the total offering to $287.5 million if exercised in full. The offering is expected to close on or about March 23, 2026, subject to approval from the Toronto Stock Exchange and NYSE American.

The company stated it plans to use proceeds to advance its gold projects through development stages, refurbish the Lone Tree processing plant, fund resource expansion and infill drilling, and for general corporate purposes.

The notes were offered only to qualified institutional buyers under Rule 144A and have not been registered under the U.S. Securities Act of 1933. The securities may not be offered in Canada except under exemptions from prospectus requirements.

i-80 Gold describes itself as a Nevada-focused mining company with gold projects in the state. The company trades on the Toronto Stock Exchange and NYSE American.

You May Also Be Interested In

• CopperTech Metals launches IPO roadshow on NYSE at $16-$18 per share
• Alpha Cognition names Dr. Robert Wills as board chairman
• Skeena Resources shareholders reelect board, name new VP