NioCorp Raises $100M via 20M Share Offering to Fund Elk Creek
NioCorp closed a $100.0 million public offering of 20 million common shares (or pre-funded warrants) at $5.00 each, with Maxim Group LLC as sole placement agent. Net proceeds will advance the Elk Creek critical minerals project in Southeast Nebraska toward commercial operation and support general corporate needs.
1. Offering Closure and Terms
NioCorp closed its U.S. public offering of 20,000,000 common shares or pre-funded warrants at $5.00 per share (warrant price $4.9999), generating approximately $100.0 million in gross proceeds before placement agent fees and expenses. Maxim Group LLC acted as the sole placement agent under the company’s effective S-3ASR shelf registration.
2. Proceeds Allocation
The company intends to deploy net proceeds toward working capital and general corporate purposes, prioritizing the advancement of development activities and the transition of the Elk Creek Project to commercial operation.
3. Elk Creek Project Overview
The Elk Creek Project in Southeast Nebraska is positioned to produce niobium, scandium, and titanium, with potential for rare earth elements such as neodymium and terbium. Moving this critical minerals project to commercial output supports demand for specialty alloys and high-strength magnet materials.