Vizsla Silver tumbles after $250 mln convertible offering announced

Sprott

19/11/2025 21:45

** U.S.-listed shares of Canada's Vizsla Silver Corp VZLA.N down 15% post-market to $3.97 as co looks to raise capital

** Mining firm announces private offering of $250 mln convertible bonds due Jan 2031

** VZLA intends to use net offering proceeds to support exploration and development of Panuco silver-gold project in Sinaloa, Mexico, potential future acquisitions, as well as for general corporate purposes

** It also plans to use a portion of proceeds to purchase cash-settled capped calls, derivative transactions employed to help mitigate dilution

** U.S.-listed VZLA shares on Weds closed up 2.9% at $4.67, giving co about $1.6 bln market cap, per LSEG data

** YTD, shares up 173%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))