NioCorp Developments Ltd. announced on April 21, 2025, the closing of its previously announced underwritten public offering. The offering generated approximately $20.8 million in gross proceeds.
The executive summary indicates that the estimated net proceeds after expenses are approximately $18.8 million. This capital is expected to fund the company's planned cash needs of approximately $23 million for the next twelve months.
These planned expenditures are primarily directed towards advancing the Elk Creek Project, including the updated mine plan and capital costs for the EXIM application, as well as corporate overhead and estimated financing costs. While providing crucial liquidity, the offering also resulted in dilution for existing shareholders.
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