Osisko Development Corp. has successfully arranged a public offering, raising approximately US$125 million through a “bought deal.” The Montreal-based mining company, listed on both the NYSE and TSXV under the ticker symbol ODV, will issue 35,311,000 common shares at a price of US$3.54 per share. This offering is expected to generate gross proceeds of US$125,000,940.
The agreement involves a syndicate of underwriters led by National Bank Capital Markets, RBC Capital Markets, and Cantor. These firms will act as co-lead underwriters and co-bookrunners for the offering. This collaboration signals a strong vote of confidence in Osisko Development’s future prospects as it continues to expand its operations in the mining sector.
Investors can access the base shelf prospectus, which outlines the details of the offering, through the company’s profile on SEDAR+. Additionally, a Canadian prospectus supplement will be available within two business days, providing further insights into the offering and its implications for the company.
Osisko Development’s strategy focuses on advancing its mining projects while optimizing its capital structure. The proceeds from this offering are anticipated to support ongoing projects and ensure the company remains well-positioned in a competitive market.
This move comes at a time when mining companies are increasingly looking to capitalize on favorable market conditions. The demand for minerals, particularly in the context of the global shift towards renewable energy, has made the sector attractive for investment.
Osisko Development continues to demonstrate its commitment to growth and innovation in the mining industry. By securing this funding, the company aims to enhance its operational capabilities and drive forward its strategic initiatives. As the mining landscape evolves, Osisko Development is poised to play a significant role in meeting the growing demand for essential resources.
