Gatos Silver loses luster after pricing stock offering

Gatos Silver

15/07/2021 15:51

** U.S.-listed shares of Gatos Silver  GATO.N  down 6.7% at
$13.55 after co prices stock offering
    ** Shares falling for 4th straight session and now down 30%
this week
    ** Silver miner announces 11.4 mln share offering at $14,
including 2.5 mln shares sold by existing holders  urn:newsml:reuters.com:*:nBw8ZD7P2a
    ** Offering size increased from 8.3 mln shares upon launch
    ** GATO raises $125 mln from shares it sold
    ** BMO, Goldman Sachs and RBC leading the offering
    ** With move on Thurs, shares up ~4% in 2021 and nearly
double their Oct 2020 IPO price of $7

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))