12:50 PM EDT, 09/25/2025 (MT Newswires) -- Blue Moon Metals ( BMOOF ) shares fell 7.9% at last look on Thursday after it increased the size of a bought-deal share offering from $60 million to $75 million.

The company is selling an underwriting syndicate 22.8-million shares at $3.30 apiece. It also granted the underwriters a 15% over-allotment option. The maximum proceeds raised under the upsized offering will be $86.5 million if the over-allotment option is fully exercised.

Closing of the upsized offering is expected on or about October 1.

Proceeds are expected to be used to develop the Blue Moon project in California, confirm the ideal processing solution for the mineralized material from the Blue Moon project, additional exploration at the Blue Moon, Nussir and NSG projects, working capital, and general and administration and corporate activities.

Shares of the company were last seen down $0.29 at $3.36 on the TSX Venture Exchange.

Price: 3.36, Change: -0.29, Percent Change: -7.95