DENVER, Oct. 6, 2020 /PRNewswire/ — Hycroft Mining Holding Corporation (Nasdaq: HYMC) (“Hycroft” or the “Company”), today announced the closing of its previously announced public offering (the “Offering”) of 9,583,334 units (which includes the exercise in full of the underwriters’ option to purchase 1,250,000 additional units) at a price to the public of $9.00 per unit.  The Offering was upsized from the initial offering of 7,220,000 units (not including the underwriters’ initial over-allotment option of 1,083,000 units). Each unit issued in the Offering consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $10.50 per share. The warrants are immediately exercisable and expire five years from the date of issuance. The Company does not plan to apply to list the warrants on The Nasdaq Capital Market, any other national securities exchange or any other nationally recognized trading system. The shares of common stock and warrants are immediately separable and were issued separately in the Offering.

(PRNewsfoto/Hycroft Mining Holding Corporat)
(PRNewsfoto/Hycroft Mining Holding Corporat)

After deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, the net proceeds to the Company were approximately $83.1 million.

Diane Garrett, Hycroft’s President and CEO commented “we are very pleased with the success of this financing which allows us to continue advancing the Hycroft Mine and unlocking the value of this significant mineral endowment.  This financing also demonstrates the continued support of our existing shareholders and we welcome the many new shareholders who also participated.”

David Kirsch, Chairman of the Board, said “Hycroft has always been one of the largest gold and silver deposits in the world, and now coupled with Diane’s leadership and the proceeds of this financing, we believe Hycroft is well positioned for success as it continues