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Gatos Silver, Inc. (TSX:GATO) ("Gatos Silver") today announced the pricing of a public offering of 8,930,000 shares of common stock by Gatos Silver and 2,500,000 shares of common stock by certain selling stockholders at a price of US $14.00 per share. In addition, Gatos Silver and the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,339,500 and 375,000 additional shares of common stock, respectively, at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering are expected to be approximately US$125 million for Gatos Silver, before deducting underwriting discounts and commissions and estimated offering expenses payable by Gatos Silver. Gatos Silver will not receive any proceeds from the sale of common stock by the selling stockholders. The offering is expected to close on July 19, 2021, subject to customary closing conditions.
BMO Capital Markets, Goldman Sachs & Co. LLC and RBC Capital Markets are acting as joint lead bookrunners and as representatives of the underwriters for the offering. Canaccord Genuity Corp. and CIBC Capital Markets are acting as co-managers for the offering.
The registration statement relating to the securities being sold in the offering was declared effective on July 15, 2021 by the U.S. Securities and Exchange Commission (the "SEC") and a prospectus supplement to Gatos Silver's short form base shelf prospectus dated July 12, 2021 will be filed with the securities regulatory authorities in each of the provinces of Canada, except Québec. Copies of the base shelf prospectus, and when available, copies of the final prospectus, and the prospectus supplement may be obtained from BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, by telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, or by telephone at (877) 822-4089 or by email at equityprospectus@rbccm.com. A copy of the base shelf prospectus and, when available, the prospectus supplement can be found on SEDAR at www.sedar.com and a copy of the final prospectus can be found on EDGAR at www.sec.gov. Prospective investors should read the base shelf prospectus, the prospectus supplement and the registration statement, including the documents incorporated by reference therein, and any amendments or supplements, before making an investment decision.
No securities regulatory authority has either approved or disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
For the purposes of TSX approval, the Company is relying on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as the New York Stock Exchange.
