Hycroft Announces Closing of $60 Million Private Placement
WINNEMUCCA, Nev. , Sept. 11, 2025 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company ") is pleased to announce the closing of the non-brokered private placement (the "Private Placement") announced on September 2, 2025 , with Eric Sprott as the lead investor, for gross proceeds of US$60 million .
The Private Placement consisted of a total of 14,017,056 units (the "Units") at a price of $4.2805 per Unit. Each Unit comprises one common share (a "Common Share") of the Company and one-half common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable into one Common Share at a price of $6.00 per share for a period of 24 months with an accelerator provision.
The net proceeds from this Private Placement will be primarily used to fund advancement of the Hycroft Mine, and for working capital and general corporate purposes. The Company's unrestricted cash after receipt of the private placement funds is approximately $129 million .
As a result of the Private Placement, Mr. Sprott now beneficially owns or controls approximately 17,535,528 Common Shares, representing approximately 33% of the outstanding shares and 10,188,176 warrants. Tribeca Global Natural Resources Ltd. ("Tribeca") beneficially owns or controls approximately 8% of the outstanding shares.
Mr. Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 9,344,704 Units at $4.2805 per Unit for total consideration of $40 million , and Tribeca acquired 4,438,734 Units at $4.2805 per Unit for total consideration of $19 million . Other participants acquired 233,618 Units at $4.2805 per Unit for total consideration of $1 million .
The shares of common stock and warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the shares of common stock, warrants and the shares of common stock underlying the warrants may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the warrants (the "Resale Registration Statement").
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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hycroftmining.com/news/...ing-of-60-million-private-placement
WINNEMUCCA, Nev. , Sept. 11, 2025 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company ") is pleased to announce the closing of the non-brokered private placement (the "Private Placement") announced on September 2, 2025 , with Eric Sprott as the lead investor, for gross proceeds of US$60 million .
The Private Placement consisted of a total of 14,017,056 units (the "Units") at a price of $4.2805 per Unit. Each Unit comprises one common share (a "Common Share") of the Company and one-half common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable into one Common Share at a price of $6.00 per share for a period of 24 months with an accelerator provision.
The net proceeds from this Private Placement will be primarily used to fund advancement of the Hycroft Mine, and for working capital and general corporate purposes. The Company's unrestricted cash after receipt of the private placement funds is approximately $129 million .
As a result of the Private Placement, Mr. Sprott now beneficially owns or controls approximately 17,535,528 Common Shares, representing approximately 33% of the outstanding shares and 10,188,176 warrants. Tribeca Global Natural Resources Ltd. ("Tribeca") beneficially owns or controls approximately 8% of the outstanding shares.
Mr. Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 9,344,704 Units at $4.2805 per Unit for total consideration of $40 million , and Tribeca acquired 4,438,734 Units at $4.2805 per Unit for total consideration of $19 million . Other participants acquired 233,618 Units at $4.2805 per Unit for total consideration of $1 million .
The shares of common stock and warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the shares of common stock, warrants and the shares of common stock underlying the warrants may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the warrants (the "Resale Registration Statement").
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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hycroftmining.com/news/...ing-of-60-million-private-placement
