The Offer
Company Overview
Ivanhoe Electric Inc. (IE) is a minerals exploration and development company domiciled in the United States. Its primary focus is on developing mines from mineral deposits primarily found in the country to support American supply chain independence and provide the essential metals required for the electrification of the economy. IE's two important mining projects are the Santa Cruz Copper Project in Arizona and the Tintic Copper-Gold Project in Utah, both of which are situated in the country.
Source: IPO Prospectus
Key Highlights
Primary Offering: The company is offering units of securities, issuing 14,388,000 shares at USD 12.12 per share (which is the midpoint of the price range set in the IPO prospectus). Assuming an initial public offering price of USD 12.12 per share, which is the midpoint of the price range listed on the cover page of this prospectus, and after subtracting estimated underwriting discounts and commissions and estimated offering expenses payable, the company projects that the net proceeds from this offering will be approximately USD 161.0 million, or approximately USD 186.2 million if the underwriters exercise their option to purchase additional shares in full.
Use of Proceeds: The firm plans to use the net proceeds of this offering for working capital and other general business needs, including paying options and earn-ins for the purchase of mineral rights as well as for drilling and other exploratory operations. The table provided below gives a detailed explanation of the uses of proceeds.
Source: IPO prospectus
Dividend Policy: On its capital stock, the corporation has never declared or distributed any cash dividends. The firm presently aims to keep all future earnings to support its operations and does not currently have any plans to pay any dividends soon. The decision to pay dividends to common stockholders in the future will be at the board of directors' discretion and depend on a variety of criteria, including the company's profitability, capital requirements, DGCL requirements, and other considerations that the board of directors considers pertinent.
Sector Analysis
Source: IPO Prospectus
Source: IPO Prospectus
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