Largo prices US$5.7 million offering at US$0.56 per share with warrants
LGO•Largo priced a registered direct offering of 10.2 million shares and accompanying warrants for about US$5.7 million in gross proceeds. The warrants have a US$0.70 exercise price, and net proceeds are earmarked for working capital, including payments to trade creditors.
1. Offering terms
Largo priced 10.2 million common shares with 10.2 million warrants at US$0.56 per share and accompanying warrant, for gross proceeds of about US$5.7 million. The warrants are immediately exercisable, have a US$0.70 exercise price and expire five years after issuance. Closing is expected on or about Sept. 29, 2026.
2. Purchasers and proceeds
ARC Fund IV, affiliated with Alberto Arias, and co-CEO Jim Bannantine will purchase 2,499,999 shares and the same number of warrants on the offering's terms. Net proceeds are earmarked for working capital, including payments to trade creditors.
