Hycroft Mining completes equity offering program, shares surge

Hycroft Mining Holding

28/03/2022 12:38

** Hycroft Mining's  HYMC.O  shares surging ~42% to $1.82
premarket after co says it completed equity raise
    ** HYMC top traded stock at 7:35 am ET with volume exceeding
12 mln shares
    ** Northern Nevada mine owner late Fri said it sold ~89.6
mln shares for gross proceeds of ~$138.6 mln through previously
announced at-the-market (ATM) equity program  urn:newsml:reuters.com:*:nPn6plbBGa
    ** HYMC on Mar 15 filed $500 mln ATM alongside AMC
Entertainment's  AMC.N  and precious-metals investor Eric
Sprott's agreement to each buy stakes of ~$28 mln in the miner
 urn:newsml:reuters.com:*:nL3N2VI3XH
    ** Avg price of shares sold by HYMC equates to ~$1.55, per
Reuters calculation
    ** Co has ~196.8 mln shares outstanding following all sales
under ATM program
    ** Through Fri close, shares have rocketed ~313% this month
in meme-like rally
    ** Also, AMC top boss Adam Aron says more meme-stock powered
deals to come  urn:newsml:reuters.com:*:nL2N2VU0HI

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