Published on 30 May 2024 on Zacks via Yahoo Finance
IAMGOLD Corporation IAG announced the successful closing of its previously announced bought deal equity financing, raising gross proceeds of $300.24 million. The net proceeds will be used to repurchase a 9.7% interest in the Côté Gold mine from Sumitomo Metal Mining Co. Ltd., a subsidiary of Sumitomo SSUMY, thereby restoring its 70% interest in the Côté Gold Mine.
IAMGOLD, on May 21, 2024, announced that it entered an agreement with a syndicate of underwriters per which they have agreed to purchase, on a bought deal basis, 72,000,000 shares of the company at $4.17 per common share.