Capstone Copper and Orion announce closing of $431 million bought deal

Company

Capstone Copper Corp.

Law Firm / Organization
Shearman & Sterling LLP

Company

Orion Fund JV Limited

Company

Orion Mine Finance Fund II LP

Company

Orion Mine Finance (Master) Fund I-A LP

Capstone Copper Corp. and Orion Fund JV Limited, alongside Orion Mine Finance affiliates, completed a bought deal offering, raising $431.2 million by selling 68.448 million common shares at $6.30 each. RBC Capital Markets, National Bank Financial Inc., and Scotiabank led the syndicate, which also included BMO Capital Markets, Canaccord Genuity Corp., and CIBC World Markets Inc. Capstone issued 56.548 million shares for $356.3 million, while Orion sold 11.9 million shares for $75 million. Capstone's proceeds will fund growth initiatives in Chile, exploration programs, and general corporate purposes. The offering, outlined in a prospectus supplement to Capstone's base shelf prospectus, excludes sales in Quebec and is available to qualified institutional buyers in the U.S. and certain other jurisdictions. Orion and Capstone agreed not to sell any securities for 90 days post-offering. Post-offering, Orion's ownership decreased to 20.3 percent from 23.7 percent.

Public/Private Offering
Mining
$ 431,000,000
Closed
08 February 2024