NioCorp closes $50 million registered direct offering

NioCorp Developments Ltd. (NASDAQ: NB) completed a registered direct offering of 10 million common shares at $5.00 per share, generating gross proceeds of approximately $50 million before fees and expenses.

Maxim Group LLC served as the sole placement agent for the transaction. The company plans to use net proceeds for working capital and general corporate purposes, including advancing construction efforts for its Elk Creek Project in Southeast Nebraska.

The offering was conducted under an effective shelf registration statement filed with the Securities and Exchange Commission on June 13, 2024, and declared effective on June 27, 2024. No securities were sold to Canadian purchasers.

NioCorp is developing the Elk Creek Project to produce niobium, scandium, and titanium, with potential rare earth production under evaluation. The company describes niobium as used in specialty alloys and high-strength steel applications, while scandium combines with aluminum for stronger, corrosion-resistant alloys and fuel cell components.

The press release included standard disclaimers noting that forward-looking statements regarding the intended use of proceeds and project development are subject to risks and uncertainties, including the company's ability to secure sufficient project financing and achieve commercial operation.

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