NioCorp begins proposed public offering of common shares

NioCorp Developments Ltd. (NASDAQ: NB) announced it has commenced a proposed public offering of common shares or pre-funded warrants in the United States. The company stated the offering is subject to market conditions and provided no assurance regarding completion, size, pricing or terms.

Maxim Group LLC serves as sole placement agent on a reasonable best-efforts basis for the offering. The company plans to use net proceeds for working capital and general corporate purposes, including advancing construction efforts for its Elk Creek Project in Southeast Nebraska.

The offering operates under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on June 13, 2024, and declared effective on June 27, 2024. Securities will be offered in the United States and other jurisdictions outside Canada, with no sales to Canadian purchasers.

NioCorp is developing the Elk Creek Project to produce niobium, scandium and titanium, with potential rare earth production under evaluation. The company describes niobium as used in specialty alloys and high-strength steel for automotive and pipeline applications. Scandium combines with aluminum for stronger, corrosion-resistant alloys and solid oxide fuel cells. Titanium serves in lightweight alloys, pigments and aerospace applications.

The preliminary prospectus supplement will be filed with the SEC and available on the commission's website. Final offering terms will be disclosed in a final prospectus supplement to be filed with the SEC.

The information is based on a company press release statement.

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